2006-10-09 07:28:27 · 6 answers · asked by Drunk365 7 in Business & Finance ➔ Other - Business & Finance
A signed contract between you, the borrower, and the facility where you are getting a loan - telling you your agreed amount, interest rate and payment terms. You will usually get a promissory note with all loans.
2006-10-09 07:39:27 · answer #1 · answered by happygolucky 2 · 1⤊ 0⤋
A promisary note is something that you promise to do or to pay back. You can always write one yourself.
2006-10-09 07:31:01 · answer #2 · answered by LA LA 6 · 0⤊ 0⤋
A promisary note is a contract to pay for something later.
You write it up and both parties sign it.
2006-10-09 07:31:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋
A promissory note is your promise to a lender that you will pay off that loan, and agreeing to the terms & conditions of the lender. Usually used for the purchase of a house..
2006-10-09 07:31:10 · answer #4 · answered by qbanita0113 4 · 0⤊ 0⤋
If you loan money to Joe Blow, Joe, will write you a promissory note. Saying when and how much you'll be paying! Joe will give you something of value, in case he can't make the payments!!
2006-10-09 07:33:22 · answer #5 · answered by alfonso 5 · 0⤊ 0⤋
They are what they are. They are promise notes to fulfill on a certain date as specified on the notes.
2006-10-09 07:31:03 · answer #6 · answered by Liwayway 3 · 0⤊ 0⤋