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Properties of this Promissory Note |
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 MS-Word format (.doc) |
3 pages |
1,334 words |
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Document Description:
A Promissory Note, also known as a Loan Note Agreement or a Note Payable, is an agreement to repay a specified sum of money during a specified period. This contract can be used to formalize loans between friends and family, or to detail the terms and conditions for larger commercial loans. Not only is this agreement binding and enforceable, it is also necessary for taxes and record keeping purposes.
This straightforward form is comprehensive, covering the breakdown of the loan and interest charges, repayment conditions, lender and borrower information and warranties, and provisions in the event of the borrowers default. We recommend using this agreement with our Loan Calculator spreadsheet to calculate the repayment schedule and interest payments.
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Features |
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1,500+ Quality Document Templates
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Benefits |
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