A promissory note, in its simplest form, is an instrument by which a Borrower (the Maker) acknowledges its obligation to repay the Lender (the Payee). Historically, Lenders required Borrowers to enter ...
Lindsay VanSomeren is a personal finance writer based out of Kirkland, Washington. Her work has appeared on Business Insider, Credit Karma, LendingTree, and more. Lindsay VanSomeren is a personal ...
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What Is a Promissory Note?
Text Callout : Key Takeaways - What Is a Promissory Note? Whether you're borrowing money from a financial institution or someone you know, a promissory note serves as a formal lending document.
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