What exactly is a personal Promissory Note?

A personal promissory note was a composed document you to definitely indications a beneficial loan of cash to a relative otherwise friend. While you are promissory cards essentially need to be considered while in the a business purchase, for instance the purchase of a property, it is extremely vital that you manage your self whenever financing are built to a household or friend.

New promissory note have a tendency to serve as evidence that a person promised so you’re able to pay your cash return in the a future time. (more…)