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when is the promissory note of security like I cant get the answer Im looking everywhere I cant get a black and white answer and the reason is that there is no black and white answer to whether a promissory note is a security in fact the judges you know what the judges say if it looks like a security it acts like a security it walks like a security its a security like wow great thanks so much for that help so in this in this episode what I wanted to do is talk about three things one is when is it when is a promissory note clearly not a security when is a promise or know clearly a security and then when are we not sure that weve got to do a little bit of a deep dive uh because actually if you look at the definition of the security which shows up in two places in the Securities act the first word it literally says the term security means any note any promissory note so right there in the definition of security when it enumerates all the stuff a promissory note is a security by defin
