promise to pay

Also found in: Acronyms.
References in classic literature ?
arrival at Newport, we were so anxious to get to a place of safety, that, notwithstanding we lacked the necessary money to pay our fare, we decided to take seats in the stage, and promise to pay when we got to New Bedford.
8) The same rule applies even when the promise to pay is accompanied by some limited control by the service provider.
A promise to pay not evidenced by a note would also not pass muster.
Companies that issue convertibles promise to pay holders a fixed yield, but at the same time allow investors the option to exchange the bonds for a set number of shares.
Finally, because prior authorization only evaluates medical necessity, it is not, strictly speaking, a legal promise to pay.
It is a promise to pay money to an employee by a manager authorized to do so.
The transaction is expected to close in the fourth quarter, at which time Grace Energy will pay Hanna approximately $34 million in cash with a promise to pay Hanna 50% of any amounts received by Colowyo under its $23 million prepetition claim against Colorado-Ute Electric, a major Colowyo customer which filed for Chapter 11 bankruptcy in March 1990.
Indeed, since the end of World War II, nearly all the growth in federal spending as a percentage of GNP, excluding interest costs, has been in programs that promise to pay future benefits.
Promise to pay metrics have increasingly become a strong gauge of campaign success because agencies no longer must wait for consumers to mail payments.
1 : a statement by a person that he or she will do or not do something <I made a promise to pay within a month.
But his promise to pay the rest the following day fell on deaf ears and he had to drive home to Hornchurch, Essex, and bring back more.
Basically, the defendant (or its liability insurer) first gives the plaintiff a promise to pay money in the future.