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After you have written the terms and conditions, it is time to decide the type of promissory note.
It has to be notarized and signed by two or more witnesses before the same might hold in a court of law.
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An unsecured Promissory Note can often be more risky for a lender to adopt because the lender has no collateral to recover should the borrower default or go bankrupt. The unsecured promissory note, on the other hand, is largely not binding in a court of law. Download a free promissory note template below.
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