About Promissory Note Legal Forms Software
What is the Promissory Note Legal Forms software?
Have a
Promissory Note Question?
If you are planning on lending money or valuables to someone, even if
it is a close friend or family member, it often makes sense
to put the basic expectations of the loan in writing, to avoid
confusion or ill-will later. "Get it in writing" is the function of a
Promissory Note: to outline the terms and repayment schedule of a loan.
Create a comprehensive, legal Promissory Note in minutes using this
Standard Legal Software package! Complete details below...
PROMISSORY NOTE LEGAL FORMS
SOFTWARE
Promissory Notes are legal documents used to create a record of a
transaction where money is loaned from one party to another. A
Promissory Note provides a way to outline the amount borrowed, the
expected repayment schedule, the interest rate, and any other terms to
the loan.
Quite simply, creating a legal and valid Promissory Note is a way to
"get it in writing" when making a loan to a friend, family member or
business associate.
TYPES OF PROMISSORY NOTES
INCLUDED:
This Standard Legal Promissory Note Software contains the following
legal note forms, each with its own comprehensive instructions for
completing the document:
- Promissory Note with Installment Payments Required Upon a
Set Payment Schedule
- Promissory Note with Lump Sum Repayment Required Upon an
Agreed Upon Date
- Promissory Note with Lump Sum Repayment Required Upon
Demand of the Holder
- Cognovit Promissory Note with Installment Payments on a Set
Payment Schedule
- Cognovit Promissory Note with a Lump Sum Repayment on an
Agreed Upon Date
- Guaranty of Payment Document
IMPORTANT
NOTE: Each one of these Promissory Notes comes with available options
for single or multiple borrowers, and for requiring a personal/third
party guarantee!
What is a Cognovit Promissary
Note?
Cognovit Promissory Notes create the same legal structure as a
Promissory Note, but they also permit the Note Holder to obtain
judgment on the Note if any payment or payments are missed -- WITHOUT
HAVING TO GO TO A TRIAL. However, some states have passed
laws that prohibit the enforcement of cognovit provisions in Promissory
Notes. Even if the cognovit provision of this note is not enforceable
in the state where the holder resides, the Note itself is still
enforceable and a lawsuit can still be initiated should the person
signing the note miss any payments.
BONUS SOFTWARE: MORTGAGE PAYMENT,
AMORTIZATION AND FINANCIAL CALCULATORS:
Standard Legal software includes a number of financial calculators! Two
free browser-based javascript calculators (one for simple interest and
one for compound interest) are included for simple loan payment
calculations, plus a complete downloadable "Calculator Software Suite"
featuring a number of great calculator tools: Quick Calculators,
Mortgage Qualifier Calculator, Loan Spread Calculator, Amortization
Schedule Calculator, Closing Costs Calculator, Rent versus Buy
Calculator, Biweekly Payments Calculator, Prepayment Calculator, and a
Home Seller's Proceeds Calculator. These tools lets buyers and sellers
examine all of the pricing and financing options!
The Promissory Note Software from Standard Legal is an easy, quick and
affordable way to "get it in writing." That way, when money is lent to
anyone -- friends, family members or business associates -- the terms
are clear in advance, thereby saving any potential confusion or
ill-will later!
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