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PROMISSORY NOTE

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Quick Overview

A promissory note, referred to as a note payable in accounting, or commonly as just a "note", is a contract where one party (the maker or issuer) makes an unconditional promise in writing to pay a sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms.

PROMISSORY NOTE

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PROMISSORY NOTE
$ ________________________
____________________________________, 20 _____
______________________________________________________________________________________________________
after date and for value received, _____________________________________________________________ promise to pay to
_______________________________________________________________________________________________________
or order at ____________________________________________________________________________________________
the sum of ____________________________________________________________________________________ Dollars
with interest from __________________________ until paid, at the rate of ______ per cent, per annum, payable
____________________________________________________________________________________________________.
Should interest not be so paid, it shall thereafter bear like interest as the principal, but such unpaid interest so
compounded shall not exceed an amount equal to simple interest on the unpaid principal at the maximum rate permitted
by law. Should default be made in the payment of any installment of interest when due, the whole sum of principal and
interest shall become immediately due and payable at the option of the holder of this note. Should suit be commenced
or an attorney employed to enforce the payment of this note, I agree to pay such additional sum as the court may
adjudge reasonable as attorney's fees in said suit. Principal and interest payable in lawful money of the United States.
____________________________________________ ___________________________________________
____________________________________________ ___________________________________________

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