Simple Unsecured Promissory Note
Unsecured Promissory Note
Authored by: Ethan Harris
Date: January 1, 2050
Statement of Promise
I, Ethan Harris, promise to repay the total mentioned sum to the stated Payee. This is an unsecured obligation, meaning there is no collateral backing this agreement.
Essential Details
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Principal Amount: The exact amount lent that is yet to be repaid. It does not include interest or fees.
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Interest: The extra expense charged for borrowing the money, expressed as a percentage of the borrowed amount.
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Repayment Date: The term or duration agreed upon for the borrower to pay back the borrowed amount along with any interest.
Terms and Conditions
The payment should be made in the form of check, money order, or direct deposit to the Payee's account. In the event of failure to repay within the agreed time, default consequences will apply as agreed in the initial terms and conditions.
Signature
By signing below, both parties agree to the terms and conditions of this Simple Unsecured Promissory Note.
