A promissory note is simply a document containing a promise to repay a stated sum of money either on a fixed date, in installments or on demand by the lender. Most of us have found ourselves in a situation where borrowing is the best option. This situation will require careful planning for the requisitions and agreements which will act as guardians. Each loan agreement is governed by a promissory note. Certain points must be included in every promissory note. These are what constitute a simple promissory note.
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