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Promissory Note

A Promissory Note is used when a lender agrees to lend money to a borrower. It sets out the payment terms for a borrower to pay back the debt to a lender.

A Promissory Note is the legal name for a legal document people sometimes think of as an “IOU”. The promissory note is sometimes used in conjunction with a Loan Agreement where additional provisions are required for more detailed loan arrangements. In general a promissory note will address the following issues regarding a loan:


Download: Promissory Note

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