When a company sold merchandise to a retailer with terms n/30, and the retailer gives them a promissory note a month later, what does that do? The promissory note is a written promise, right? Is the retailer using the promissory note because they can't pay for it yet? Are promissory notes only for businesses? Or can people send these too, like for credit cards, etc.? Sorry, I don't understand the definition of my book. lol