Definition of "note payable" []

• A note promising to pay a certain amount of money at a certain time (noun)

WordNet. Princeton University. 2010.

• "In the interim Dr. Handy and I prepared a proposition to give ten notes, two thousand five hundred each, one note payable annually at six per cent. interest, to be signed by the Financial Secretary and Trustees of the church, the Financial Department to pay interest on twenty thousand dollars, or its proportion until the whole was paid."