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When Noah's dad gets home from work, Noah runs to him shouting, "Daddy!" His dad sweeps him up in a bear hug, gives him a gentle knuckle rub on top of his head, and then lowers him to the ground in a pretend choke hold. Noah screams with delight, escapes the hold, and climbs on his dad's back to ride him like a horse. Noah accidentally hurt his dad while climbing, and his dad said sternly, "That really hurt. Be nice!" What kind of lesson is Noah's dad teaching him with this rough-and-tumble play bout?
Promissory Note
A financial document in which one party promises in writing to pay a determinate sum of money to another party under specific terms.
Principal
The face amount of the note.
Promissory Note
A written promise to pay a specified sum of money to a designated person at a fixed or determinable future time.
Creditor
Someone who has a claim to assets.
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