A promissory note is a legal promise to return borrowed money. An unconditional promise to pay a certain amount of money to a designated party or the holder of the promissory note, or to deposit that money as directed by such persons. The promissory note must be in writing and signed by the pledge author.
What promissory note?
A promissory note is a legal promise to return borrowed money. An unconditional promise to pay a certain amount of money to a designated party or the holder of the promissory note, or to deposit that money as directed by such persons.
References
- https://eforms.com/promissory-note/
- What Is a Promissory Note? - Experian
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What is promissory note for mortgage?
The promissory note, a contract separate from the mortgage, is the document that creates the loan obligation. This document contains the borrower's promise to repay the amount borrowed.
Can promissory notes be sold?
Promissory notes and securities can be sold. The person who owns the promissory note can sell it.
Can promissory note be sold?
If you are the holder of a promissory note, you may be able to sell it in cash. However, you will sell the ticket for less than face value.
Can i sell my promissory note?
If you are the holder of a promissory note, you may be able to sell it in cash. However, you will sell the ticket for less than face value.
