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.
Yes, a Demand Promissory Note is legally binding in Omaha as long as it meets the necessary criteria and both parties agree to its terms. It’s smart to keep a copy for your records!
Absolutely! It's a great way to keep financial agreements clear in personal relationships, just remember to keep it friendly and straightforward to avoid any misunderstandings.
Unlike standard promissory notes with set payment dates, a Demand Promissory Note allows the lender to ask for payment at any time, making it more flexible but also a bit riskier for the borrower.