French[edit] From Middle French, from Old French -al, a Borrowing from Latin -Älis. Cognate to French -el, which is also from Latin -Älis but inherited (not borrowed). -al. -al (of or pertaining to; adjectival suffix appended to various words, often nouns, to make an adjective form.
Promissory Note is a written promise made by one person to pay certain sum of money due to another person or any other legal holder of the document. whereas A cheque is an unconditional order, in writing adressed by a customer, with signature, to the bank requiring it to pay on demand a certain sum of money to the order of a specified person or to the bearer.
A written promissory note is a note payable for the borrower and it is a note receivable for the lender. Hence, the promissory note is a liability for the borrower and it is an asset for the lender.To illustrate, let's assume that Local Retailer borrows $20,000 from its bank and signs a promissory note. Local Retailer records $20,000 in its liability account Notes Payable and also records the $20,000 in its Cash account. The bank records the $20,000 promissory note in its asset account Notes Receivable and it records the $20,000 increase in its customer's checking account (which is a liability account on the bank's balance sheet).