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TeachMeFinance.com - explain note Note -- The binding legal document you sign when you get a loan. It lists the conditions under which you're borrowing and the terms under which you agree to pay back the loan (also called a promissory note or a mortgage note). another definition... note -- an instrument bearing legal evidence of debt. A note is signed by the maker (borrower) and promises to pay a specified sum of money to the lender at a certain future date and place. historic definition... Note -- The abbreviated name for a promissory note, for information as to which see Promissory note. Note also is an abbreviation occasionally used for bank note, as a ten-dollar note or a five-pound note. To note a bill of exchange (or a promissory note) means to make a memorandum on it to the effect that it has been dishonored ; for additional information see Noting a bill. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.