The business or person that signs the promissory note and agrees to pay the required amount is called the payee.

Name: The business or person that signs the promissory note and agrees to pay the required amount is called the payee.
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The business or person that signs the promissory note and agrees to pay the required amount is called the maker or borrower. The payee is the person or entity that receives the payment.

The Business or Person That Signs the Promissory Note and Agrees