promissory

/ˈprɑmɪˌsɔːri/ /ˈprɑməˌsɔːri/

Meanings

adjective

Containing or consisting of a promise.

Examples :

"The bank required a promissory note as proof of Sarah's commitment to repay the loan. "

adjective

(of a contractual provision) Stipulating the future actions required of the parties to an insurance policy or other business agreement.

Examples :

"The insurance policy included a promissory clause requiring the homeowner to maintain the smoke detectors. "

business insurance law

Related Words

commitment noun

/kəˈmɪtmənt/ /kəˈmɪmʌnt/

The act or an instance of committing, putting in charge, keeping, or trust, especially:

"My commitment to finishing my school project is strong; I plan to stay late at the library to complete it. "

required verb

/ɹɪˈkwaɪəd/ /ɹɪˈkwaɪɹd/

To ask (someone) for something; to request.

"The teacher required the students to bring their textbooks to class every day. "

requiring verb

/ɹɪˈkwaɪ(ə)ɹɪŋ/

To ask (someone) for something; to request.

"The teacher is requiring students to submit their essays by Friday. "

detectors noun

/dɪˈtɛktərz/ /diˈtɛktərz/

A device capable of registering a specific substance or physical phenomenon, and that optionally sounds an alarm or triggers a warning.

"Smoke detectors are mandatory in public buildings."

insurance noun

/ɪn.ˈʃɔː.ɹəns/ /ɪn.ˈʃɝ.əns/

A means of indemnity against a future occurrence of an uncertain event.

"The car was totalled, but fortunately I had insurance."

provision noun

/pɹəˈvɪʒ.ən/

An item of goods or supplies, especially food, obtained for future use.

"The family stocked up on provisions for the upcoming camping trip, including canned food and bottled water. "

containing verb

/kənˈteɪnɪŋ/

To hold inside.

"The box containing my old toys was stored in the attic. "

consisting verb

/kənˈsɪstɪŋ/

To be.

"The project consists of three main parts. "

contractual adjective

/kənˈtræktʃuəl/ /kənˈtræktʃəl/

Of, relating to, or enforced by a contract.

"our contractual obligations"

agreement noun

/əˈɡɹiːmənt/

An understanding between entities to follow a specific course of conduct.

"to enter an agreement; the UK and US negotiators nearing agreement; he nodded his agreement."

stipulating verb

/ˈstɪpjəˌleɪtɪŋ/ /ˈstɪpjəˌleɪɾɪŋ/

To require (something) as a condition of a contract or agreement.

"The rental agreement is stipulating that tenants must pay for all damages to the apartment. "

homeowner noun

/ˈhoʊmoʊnər/ /ˈhoʊməʊnər/

Someone who owns a house

"The homeowner painted the front door a cheerful shade of blue. "