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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.

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1 comments:

Unknown said...

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.
For more information you can visit-promissory note

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