Problems may even arise between friends and family members if money is lent without being properly documented. By using this promissory note, both parties will have a written record of the regular intervals at which the loan is to be repaid as well as the repayment period. Both parties will agree that any remaining balance is to be paid by the end of this period of time. This note is for use in Illinois, although there may be limits on interest rates or other aspects of lending money.
Type: Contract
