Legal Definitions - lawnote

Definition: A lawnote is a written promise by one party to pay money to another party or to bearer. It is a two-party negotiable instrument, unlike a draft which is a three-party instrument. It is also known as a promissory note.

Examples:

• Accommodation note: An accommodation note is a note that an accommodating party has signed and thereby assumed secondary liability for.
• Balloon note: A balloon note is a note requiring small periodic payments but a very large final payment.
• Demand note: A demand note is a note payable whenever the creditor wants to be paid.

These examples illustrate the different types of notes that can be used in financial transactions. They show how a note can be structured to meet the needs of the parties involved. For example, a balloon note may be used when the borrower expects to have a large sum of money at the end of the payment period, while a demand note may be used when the creditor wants to be able to demand payment at any time.

Additional Example:

• Lawnote: A lawnote is also a scholarly legal essay shorter than an article and restricted in scope, explaining or criticizing a particular set of cases or a general area of the law, and usually written by a law student for publication in a law review.

This example illustrates how the term "lawnote" can also refer to a type of legal writing. It shows how a lawnote is a shorter, more focused piece of legal writing that is often written by law students and published in law reviews.