Sample Promissory Note For Vehicle Purchase - Promissory Note in Connection with Sale of Motor Vehicle

State:
Multi-State
Control #:
US-02680BG
Format:
Word
Instant download

Description

A promissory note is a written promise to pay a debt. It is an unconditional promise to pay on demand or at a fixed or determined future time a particular sum of money to the order of a specified person or to the bearer. A promissory note should have several essential elements, including the amount of the loan, the date by which it is to be paid back, the interest rate, and a record of any collateral that is being used to secure the loan. Default terms (what happens if a payment is missed or the loan is not paid off by its due date) should also be spelled out in the promissory note. Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
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Sample Promissory Note For Vehicle Purchase