The amount for which a promissory note is written is called the face value.
A promissory note is a type of debt instrument that includes a written commitment by one party (the note's issuer or maker) to pay another party (the note's payee) a specific amount of money, either immediately or at a predetermined later date.
The parameters of the debt, including the principal amount, interest rate, maturity date, date and location of issuance, and the issuer's signature, are normally all included in a promissory note.
Various Promissory Note Types
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