A Promissory Note that states that a set sum shall be paid with interest of a per annum amount on the unpaid balance and that entire principle and any accrued interest is due paid in full and at any time demanded by the holder. Further, this Promissory Note has terms set out for default in making payment.
Not necessarily! While having a lawyer can help ensure everything is in order, you can also find templates online that you can fill out yourself. Just be sure to read the fine print.
Yes, as long as it’s written properly and signed, it’s legally binding. It’s like shaking hands on a deal but with more paperwork!
Absolutely! You can add terms that suit your needs, such as the amount, interest rate, and repayment terms. It’s your note, so make it work for you!