<PAGE>

EXHIBIT 10.10

                                 PROMISSORY NOTE

Maximum Principal                                                   May 2, 2001
Amount $[315,000]                                           McMinnville, Oregon

         FOR VALUE RECEIVED, the undersigned Yamhill Valley Vineyards, Inc., an
Oregon corporation (the "Company") promises to pay to the order of David
Anderson (the "Holder"), at 17450 SW Oldsville Rd., McMinnville, Oregon, or at
such other place as the Holder may designate, the sum of (i) the aggregate
outstanding principal amount of the advances made to the Company by the Holder
from time to time, which is limited to the maximum aggregate principal sum of
Three Hundred Fifteen Thousand Dollars ($315,000), plus (ii) interest on such
amounts advanced at the rate specified in this Note, in the manner and on the
terms set forth in this Note:

      1. INTEREST. The aggregate outstanding principal amount advanced to the
Company under this Note shall bear interest at the rate of ten percent (10%) per
annum. Interest shall begin to accrue on the principal amount of the advance
upon the delivery of such advance to the Company. Interest shall be calculated
on the basis of a 360 days per year factor applied to the actual days on which
there exists an unpaid principal balance.

      2. REPAYMENT. This Note shall be paid in full, including outstanding
principal, interest and all charges, on or before January 2, 2004 (the "Maturity
Date"). All payments made under this Note shall be made in immediately available
funds, United States dollars.

      3. PREPAYMENT. The Company shall have the privilege of prepaying the whole
amount due hereunder (or any portion thereof) at any time before the Maturity
Date of this Note.

      4. ACCELERATION UPON DEFAULT. Time is of the essence of this Note. In the
event (a) the Company defaults in the payment of principal or interest under
this Note, or (b) of the bankruptcy or insolvency of the Company or any
assignment for the benefit of creditors or the commencement of an action for the
appointment of a receiver for the properties of the Company or the commencement
of any other action or proceedings under the federal bankruptcy laws which is
not dismissed within 120 days after the date of filing (each of (a) and (b),
constitute an "Event of Default"), the Holder may declare the principal of this
Note then outstanding, together with interest thereon, to be immediately due and
payable, and from and after the occurrence of an Event of Default interest will
accrue on the outstanding principal balance at a rate of twelve percent (12%)
per annum. Any forbearance or failure to exercise this right shall not
constitute a waiver of the Holder's right to exercise the right with respect to
such default and any subsequent default.

      5. EXPENSES OF COLLECTION. Upon the occurrence of an Event of Default
under this Note, this Note may be referred to an attorney for collection. If
this Note is referred to an attorney for collection, the Company shall pay all
of the Holder's reasonable costs, fees and expenses resulting from such
referral, even though suit has not been filed. In the event suit or action is
filed in connection with this Note, the prevailing party shall be entitled to
recover from
<PAGE>

the other party such sums as the court may adjudge reasonable as attorneys' fees
at trial or on appeal of such suit or action, in addition to all other sums due
pursuant to this Note and all other sums provided by law.

      6. USURY. It is the intention of the Company and the Holder to comply with
applicable usury laws. Therefore, nothing in this Note shall require the payment
or permit the collection of interest in excess of the maximum amount permitted
by law. If compliance with this Note would result in a violation of applicable
usury law, the amount of the payment obligation imposed by this Note shall be
reduced to the maximum amount permitted by law. If the holder of this Note
receives any payment of interest, or receives any payment or transfer that is
deemed to be interest by applicable law, in an amount that exceeds applicable
law, the amount in excess of the limit imposed by law shall be applied to reduce
the principal amount owing under this Note. If the amount received in excess of
the limit imposed by law exceeds the unpaid principal balance on this Note, the
excess amount shall be refunded to the Holder.

      7. REVERSAL OF PAYMENTS. To the extent that the Company makes a payment to
the Holder that is subsequently invalidated, declared to be fraudulent or
preferential, set aside or required to be repaid to a trustee, receiver or any
other party under any bankruptcy law, state or federal law, common law, or
equitable cause, then the portion of the debt evidenced by this Note that was
intended to be satisfied shall be revived and continue in full force and effect,
as if such payment or proceeds had not been received by the Holder.

      8. SEVERABILITY. If any part of this Note shall be adjudged invalid,
illegal, or unenforceable, then such partial invalidity, illegality, or
unenforceability shall not cause the remainder of this Note to be or to become
invalid, illegal, or unenforceable. If a provision hereof is held invalid,
illegal or unenforceable in one or more of its applications, the parties hereto
agree that the other provisions shall remain in effect in all valid, legal and
enforceable applications that are severable from the invalid, illegal or
unenforceable application or applications.

      9. GOVERNING LAW. The validity, meaning, enforceability and effect of this
Note, and the rights and liabilities of the parties, shall be determined in
accordance with the laws of the State of Oregon.

      IN WITNESS WHEREOF, the Company has executed this Note as of the date
first above written.

                                                YAMHILL VALLEY VINEYARDS, INC.


                                                By
                                                  -----------------------------
                                                  Denis Burger, President


                                       2