Tip - What Is the Face Value of a Promissory Note? | eHow

A promissory note is a document used to pledge repayment of a loan. It constitutes a legal promise to pay, and is enforceable by law. As a written contract, the promissory note carries specific features identifying the parties and terms. Promissory notes can be secured or unsecured, and always set out the amount of the loan and the repayment terms.