What is a Promissory Note ?
Promissory notes are often used by friends and family members to record loans made between them.
#1
promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms and conditions.                  

The terms of a note usually include the principal amount, the interest rate if any, the parties, the date, the terms of repayment (which could include interest) and the maturity date. Sometimes, provisions are included concerning the payee's rights in the event of a default, which may include foreclosure of the maker's assets. In foreclosures and contract breaches, promissory notes under CPLR 5001 allow creditors to recover prejudgement interest from the date interest is due until liability is established. For loans between individuals, writing and signing a promissory note are often instrumental for tax and record keeping. A promissory note alone is typically unsecured.

https://en.wikipedia.org/wiki/Promissory_note
https://quotestats.com/topic/promissory-quotes/
           
                                       Gaiety alone, as it were, is the hard cash of happiness; everything else is just a promissory note.
                                                                                                                                                     Arthur Schopenhauer


https://www.lawdepot.ca/law-library/Prom...AQ-Canada/


MICHAEL TELLINGER EXPLAINS HOW TO CREATE / USE YOUR OWN PROMISSORY NOTE

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