Final answer:
A promissory note for earnest money should be made out in the name of the seller, as it is a deposit that signifies the buyer's good faith and intention to proceed with the property purchase.
Step-by-step explanation:
A promissory note for earnest money in a real estate transaction should be made out in the name of the seller. Earnest money is a deposit made to a seller showing the buyer's good faith in a transaction. It's part of the buyer's down payment if the transaction goes through, held in an escrow account, and should not be made out to the broker, buyer, or agent who wrote the offer.