Who is the individual that executes a promissory note?

The individual that executes a promissory note is known as the maker. This term refers specifically to the person or entity that promises to pay a specified amount of money to another party, which is indicated in the note itself. In essence, the maker is the borrower who creates the note and takes on the legal obligation to repay the loan under the terms specified in the document. This role is crucial as it signifies the commitment to fulfill the financial obligation, making the maker central to the instrument's function.

In the context of a promissory note, other roles like the drawer, payee, and endorser serve different functions. The drawer is typically related to checks or drafts and is the person who creates or writes the order to pay. The payee is the individual or entity who is to receive the payment. The endorser is someone who transfers their rights in a note to another party, usually by signing it. Understanding these distinctions helps clarify the responsibilities and rights involved in financial agreements like promissory notes.