This form is a Promissory Note in connection with the sale of a vehicle where the Buyer is to pay a portion of the purchase price over time.
Pennsylvania Promissory Note With Personal Guarantee Template
Category:
State:
Pennsylvania
Control #:
PA-00431-D
Format:
Word;
Rich Text
Instant download
Description
How to fill out Pennsylvania Promissory Note In Connection With Sale Of Vehicle Or Automobile?
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FAQ
There is no legal requirement for most promissory notes to be witnessed or notarized in Pennsylvania (promissory notes related to real estate may need to be notarized).
Detailed Information The note has all the required information including the name of the drawer and payee, date of maturity, terms of repayment, issue date, name of the drawee, name, and signature of the drawer, principal amount, and the rate of interest, etc.
You can use a template or create a promissory note online. But before you begin, you'll need to gather some information and make decisions about the way the loan will be structured. First, you'll need the names and addresses of both the lender (or "payee") and the borrower.
At its most basic, a promissory note should include the following things:Date.Name of the lender and borrower.Loan amount.Whether the loan is secured or unsecured. If it's secured with collateral: What is the collateral?Payment amount and frequency.Payment due date.Whether the loan has a cosigner, and if so, who.
In any event, a promissory note does not have to be notarized to be binding. The private respondents have admitted signing the two notes and they have not succeeded in proving that they did so "under duress, fear and undue influence."
