North Carolina Simple Promissory Note for Tutition Fee
Description
How to fill out Simple Promissory Note For Tutition Fee?
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FAQ
In North Carolina, you do not usually file a promissory note with the court. Instead, keep the note in a safe place among your important documents. It's wise to inform all parties involved of its location. This ensures that you can easily access it if needed during the repayment period.
This is to express in writing my inability to pay on time the amount due for my tuition fees amounting to P. I promise to pay said amount on or before . Furthermore, I am fully aware that subsequent Promissory Notes shall not be accepted without settling my current due amount.
A simple promissory note might be for a lump sum repayment on a certain date. For example, you lend your friend $1,000 and he agrees to repay you by December 1. The full amount is due on that date, and there is no payment schedule involved.
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.
A bank can issue a promissory note, but so can an individual or a company or business. Anyone who lends money can do so. A promissory note isn't a contract, but you'll likely have to sign one before you take out a mortgage.
Simple Promissory Note SampleInclude the date you are writing or the date you plan to send the note at the top. Write the total amount due in both numeric and long-form. Add a detailed description of the loan or note terms. For example, you'll need to include what the loan or payment is for, who will pay it and how.
Although a promissory note is usually written on a computer and printed out or a pre-made form is filled out, a handwritten promissory note signed by both parties is legal and will stand up in court.
There is no legal requirement for most promissory notes to be witnessed or notarized in North Carolina. Still, the parties may decide to have the document certified by a notary public for protection in the event of a lawsuit.
Simple Promissory Note SampleInclude the date you are writing or the date you plan to send the note at the top. Write the total amount due in both numeric and long-form. Add a detailed description of the loan or note terms. For example, you'll need to include what the loan or payment is for, who will pay it and how.
This is to express in writing my inability to pay on time the amount due for my tuition fees amounting to P. I promise to pay said amount on or before . Furthermore, I am fully aware that subsequent Promissory Notes shall not be accepted without settling my current due amount.
