What is a promissory note?
A promissory note is a document containing a written promise to pay a stated sum to a specified person at a specified date or on demand which has to be duly signed. I usually include the principle amount, the interest rate (if any), the parties, date, terms of repayment and maturity date. Sometimes other additional points are also included regarding the repayment as per the parties involved.
How to use it?
We provide you with promissory note format which you can use as a document to promise to pay money in the future with the conditions regarding the same in the note. Such note can be prepared on a blank piece of paper which has to be duly signed by both the parties between whom such promissory note has been prepared.
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