What is another word for promissory notes?
Pronunciation: [pɹˈɒmɪssəɹˌi nˈə͡ʊts] (IPA) 
A promissory note is a document that includes a promise to pay a sum of money to a certain individual or entity within a specified period. Some synonyms for this financial instrument include IOUs, debt instruments, notes payable, bonds, bills of exchange, and convertible notes. IOUs are informal promissory notes that are not legally binding. Debt instruments and notes payable are similar to promissory notes, but they are used for larger sums of money and are often backed by collateral. Bonds are a type of promissory note issued by companies, governments, and other organizations. Bills of exchange are similar to promissory notes, but they involve three parties instead of two. Convertible notes are promissory notes that can be converted into equity.
