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Typically, the rate of return promised is very high. And, the level of risk promised is very low. Promissory notes can be appropriate investments for many investors. But, promissory notes that are sold broadly to individual investors are often scams.

A promissory note is a written promise by one party to make a payment of money at a date in the future. Although they may be issued by financial institutions, it is also common for other organizations or individuals to use promissory notes to confirm the agreed terms of a loan.

A Georgia promissory note must be signed and dated by the borrower and a witness. It should also be notarized.

You can use a template or create a promissory note online. But before you begin, you'll need to gather some information and make decisions about the way the loan will be structured. First, you'll need the names and addresses of both the lender (or "payee") and the borrower.

Is a promissory note a legal document? Yes, even if it's not written by a lawyer. If you sign the document, you're bound as the payer or payee to abide by the terms of the agreement.

In short, promissory notes are a legal instrument where one party promises to pay another party. Promissory notes are bound to a set amount of money and specific terms and conditions. Promissory notes are different from a simple spoken or written promise because they contain specific, formal information.

Signatures : All parties must sign the note for it to be legally enforceable. Generally promissory notes only need to be signed by the borrower that is making the promise. Release of Promissory Note : Once the loan is paid back, the commitment of the parties in the promissory note can also be brought to an end.

At its most basic, a promissory note should include the following things: Date. Name of the lender and borrower. Loan amount. Whether the loan is secured or unsecured. If it's secured with collateral: What is the collateral? ... Payment amount and frequency. Payment due date. Whether the loan has a cosigner, and if so, who.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232