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A negotiable promissory note is unconditional promise made in writing by one person to another to pay on demand to the payee, or at fixed or ascertainable future time, sum certain in money, to order or to bearer. These notes are governed by the Uniform Commercial Code.
Generally, negotiable promissory notes are used to secure real estate transactions. One who writes his/her name upon the back of a negotiable promissory note, of which s/he is neither the payee nor endorsee, before it is delivered, in the absence of extrinsic explanatory evidence, will assume the liability of an endorser. Presumably, his/her contract with the payee is that of an endorser of mercantile paper.