Friday, 30 December 2011
Essentials of a Promissory Note
A promissory note is a "promise to pay" a certain amount of money borrowed. It is usually signed between a "payer" and "payee". Lenders, who are unsure of lending money to the borrowers, often attach a security as collateral.
1 comments:
A promissory note is a totally different element from the deed of trust. From the word itself, it signifies the promise to repay a loan or debt on the terms and conditions agreed by both the borrower and lender.
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