A Nevada promissory note is a contract by which a borrower agrees to return a loan to a lender by a prescribed date. By signing the form, the borrower commits to repaying the debt according to the installment plan indicated in the note, along with any accrued interest. To ensure they get refunded, the lender can have the borrower find a co-signer to guarantee the note, or ask that they put up collateral.

While promissory notes are not as formal or detailed as a loan agreement and are therefore used less frequently by financial institutions, the borrower is nonetheless legally bound by the terms and can be sued by the lender if they default under the contract.