Unsecured Promissory Note Template Texas. A promissory note is a written agreement to repay a debt. Lewis is a retired corporate executive, entrepreneur, and investment advisor in Texas.
The promissory note template contains an agreement that binds both parties so that there is certainty in the process of loan money. The formatting will change when printed or viewed on a desktop computer. Nonetheless, the unsecured promissory note does help to ensure that the funds will be repaid because it demonstrates that the borrower knew what he or she was agreeing to in signing the loan.
The following are the major headings and what each stands for The unsecured promissory note template is a document that allows a lender to detail an amount of money that is given to someone else (the 'borrower) with the intention of being reimbursed with interest (if any).
An unsecured promissory note is an obligation for payment without any property securing the payment.
If the borrower defaults on an unsecured loan, the lender must go to court to recover its money. The person lending the money and the person borrowing the money may decide on the interest. Get Texas personal promissory note forms.