Unsecured Promissory Note Sample. An unsecured promissory note has several parts and headings. Here, the loan is made strictly on the borrower's ability to repay.
Unsecured promissory note refers to any loan that is not secured by any collateral property such as title deed or car logbook.
A Promissory Note, also sometimes called an IOU, is essentially a one-sided document by which a borrower of money (most often just called the Borrower) agrees to pay a lender (the Lender).
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Unsecured Promissory Note: Use this document if you don't want the borrower to agree to give up property if they fail to pay back the loan. A Promissory Note is also considered to be a type of written agreement. The sample promissory note above contains an agreement to repay the loan at the end of the term, with no periodic payments.
