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De La Salle Medical and Health Sciences Institute City of Dasmarias, CavitePROMISSORY NOTE / AFFIDAVIT OF UNDERTAKING PROMISSORY NOTEI/We, promise to pay the balance of tuition fee for the semester.

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FOR VALUE RECEIVED, the undersigned, (the "Maker"), hereby promises to pay to the order of ____________________ (LENDER NAME) ("Payee"), the principal sum of $ ____________ pursuant to the terms and conditions set forth herein. PAYMENT OF PRINCIPAL.

The lender keeps the original promissory note until you have fulfilled all obligations, i.e., paid off, your mortgage. A promissory note will generally contain the following information: The total amount of money borrowed; Your interest rate (either fixed or adjustable);

While many homeowners think they're paying off the mortgage loan to officially “own” their home, it's actually the promissory note that holds them to the promise. The lender holds the note until the mortgage repayments are complete and it's the note that gives them the power to foreclose if the homeowner defaults.

Promissory notes are legally binding whether the note is secured by collateral or based only on the promise of repayment. If you lend money to someone who defaults on a promissory note and does not repay, you can legally possess any property that individual promised as collateral.

The promissory note is held by the lender and returned to the borrower marked 'paid in full' when the loan has been repaid. Real estate notes can be bought and sold freely on the open market, so lenders can sell the note to another investor at any time.

Only the borrower signs a promissory note, whereas both the lender and the borrower sign a loan agreement. Once the document is signed, it means that the borrower agrees to pay back the loan.

Types of Promissory Notes Simple promissory note. Demand promissory note. Secured promissory note. Unsecured promissory note.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232