This form is a Promissory Note. The borrower promises to repay the lender, with interest, on a particular loan. The payments will be made in monthly installments and there is no penalty for pre-payment of the loan.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés.
For your convenience, the complete English version of this form is attached below the Spanish version.
If the buyer falls behind on payments, the seller may need to take legal action to recover the owed amount. It's like a game of chess—the seller has to think a few moves ahead to protect their interests.
Using a promissory note can help both buyers and sellers. Sellers can sell their business quicker, while buyers can spread out payments, making the deal more manageable without breaking the bank.
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