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A loan is a sum of money which is borrowed on the condition that it will be paid back.
A promissory note is a written promise to pay the loan that sets forth the terms of the loan and is signed by both parties.
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∙ 12y ago
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If you have a promissory note based on a business loan and you file bankruptcy on that business loan is the promissory note still valid?
Even though you file bankruptcy, you still have to honor the promissory note. If you are ordered to make installment payments then you will have to pay the promissory note in installments.
What happens if you don't sign a promissory note?
You don't get the loan
Which of these is a signed promise to pay back a loan?
promissory note
Difference between a bond and a promissory note?
The major difference between a bond and a promissory note is that a bond has longer maturity terms. Also, a bond is released in a stamped, certified and official series. A promissory note is made on an individual basis and specifies the terms of the loan including interest and maturity date.Second, bonds are released in an official, stamped and certified series, each bond being for a similar amount and on similar terms, while promissory notes are made on an individual basisRead more : http://www.ehow.com/about_6516863_comparison-bond-vs_-promissory.html
When should one get a promissory note?
A promissory note is to provide and record details of a loan. One should receive one if a personal loan, business loan or real estate transaction has taken place. A promissory note is legally binding and can be used in a court of law if the borrower does not pay. It is a more complicated version of an IOU.
Difference between bill of exchange and promissory note?
difference between bill of exchange and promissory note?
If you have a promissory note based on a business loan and you file bankruptcy on that business loan is the promissory note still valid?
Even though you file bankruptcy, you still have to honor the promissory note. If you are ordered to make installment payments then you will have to pay the promissory note in installments.
What is the difference between a Secured Promissory Note and a Promissory Note?
A secured promissory note has collateral attached - usually an item/items of value or a deposit. If the note is not fulfilled, the creditor can seize the collateral as payment. An unsecured note has no collateral attached.
Insturctions on filling out straight note secured by deed of trust?
What is the difference between a straight note and a promissory note:
What is a sentence for promissory note?
I needed to sign a promissory note for my student loan money.The bank is legally owed money when you sign a promissory note.The promissory note was only one page long but used complicated language.
What happens if you don't sign a promissory note?
You don't get the loan
Which of these is a signed promise to pay back a loan?
promissory note
Difference between a bond and a promissory note?
The major difference between a bond and a promissory note is that a bond has longer maturity terms. Also, a bond is released in a stamped, certified and official series. A promissory note is made on an individual basis and specifies the terms of the loan including interest and maturity date.Second, bonds are released in an official, stamped and certified series, each bond being for a similar amount and on similar terms, while promissory notes are made on an individual basisRead more : http://www.ehow.com/about_6516863_comparison-bond-vs_-promissory.html
When should one get a promissory note?
A promissory note is to provide and record details of a loan. One should receive one if a personal loan, business loan or real estate transaction has taken place. A promissory note is legally binding and can be used in a court of law if the borrower does not pay. It is a more complicated version of an IOU.
What is a signed promise to pay back loan?
Collateral
Promissory Note Due on a Specific Date?
Get StartedThe Due on a Specific Date Promissory Note is a document that specifies the terms, rights, and obligations that apply to a loan. The party making the loan is the "Lender" and the party borrowing the loan funds is the "Borrower." The Note includes provisions regarding the amount of the loan, the interest rate, the date by which the loan must be repaid, and general provisions for enforcing the repayment of the loan.A loan under a Due on a Specific Date Promissory Note must be repaid by the Borrower to the Lender on a specified due date.
Promissory Note Due on Demand?
Get StartedThe Due on Demand Promissory Note is a document that specifies the terms, rights, and obligations that apply to a loan. The party making the loan is the "Lender" and the party borrowing the loan funds is the "Borrower." The Note includes provisions regarding the amount of the loan, the interest rate, the date by which the loan must be repaid, and general provisions for enforcing the repayment of the loan.Due on Demand Promissory Note is payable "on demand," meaning it must be paid immediately by the Borrower upon request by the Lender.
