Simple Promissory Note for Tutition Fee
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Write the date of the writing of the promissory note at the top of the page. Write the amount of the note. Describe the note terms. Write the interest rate. State if the note is secured or unsecured. Include the names of both the lender and the borrower on the note, indicating which person is which.
I hereby affix my signature to this agreement. Done this _____ Day of _________ 20____. To whom it may concern, This is to express in writing my inability to pay on time the amount due for my tuition fees amounting to P____________________.
I hereby affix my signature to this agreement. Done this _____ Day of _________ 20____. To whom it may concern, This is to express in writing my inability to pay on time the amount due for my tuition fees amounting to P____________________.
However, it is still smart to contact a lawyer to help you prepare a personal promissory note, even if you already used an online template. A lawyer can prepare and/or review the note to ensure that all state law requirements are included. This will help with enforceability if there are any issues down the road.
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.
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.
Writing the Promissory Note Terms You don't have to write a promissory note from scratch. You can use a template or create a promissory note online.
