What is a Promissory note? A promissory note is a legal agreement in which you promise to pay money you have borrowed. It is just the legal version of and IOU. There are a variety of plans available to repay the note.
The note may be repaid in one lump sum, in smaller weekly or monthly payments or payable on demand meaning when your lender demands payment.
It is very important to remember only sign one copy of a promissory note! Each note that you sign you are a making an agreement to pay even if it is the same note. For example if you sign three copies of the same note you have agreed to pay three times the same loan. If copies are to be made they should be done before the note is signed so there will not be any mistakes. So it is very important to make sure you only signed a promissory note one time.
This policy is valid from 20 May 2011. This blog is a personal blog written and edited by me. For questions about this blog, please contact ADMIN in the comment section in any post. This blog accepts forms of cash advertising, sponsorship, paid insertions or other forms of compensation. The compensation received may influence the advertising content, topics or posts made in this blog. That content, advertising space or post may not always be identified as paid or sponsored content. Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer, provider or party in question. It is the sole responsibility of the reader to weigh the product endorsement as legitimate.