Promissory Note
"Are promissory notes widely used in Turkey?"
Quick Answer
A promissory note (Bono) is a written promise by one party (the maker) to pay a specific sum of money to another (the payee) at a determined future date.
Scope and Legal Distinctions
A promissory note contains an undertaking to pay and has mandatory formal requirements. It is distinct from a cheque and from an ordinary signed invoice.
What to Check in Practice
Preserve the original, maturity, signature authority and endorsement chain; assess recourse and the appropriate enforcement procedure.
Sources & Authorities
Statutory framework and official guidance for this definition.
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