Do It Yourself Promissory Note Legal Forms Software

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 other valuables, to someone else, even a close friend or family member, it almost always makes sense to put all 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.

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 Promissory Note Software kit contains the following legal note forms, each with its own comprehensive instructions for completing each document:

Promissory Note with Installment Payments Required Using a Set Payment Schedule
Promissory Note with Lump Sum Repayment Required Using 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 (cognovits from the Latin for "knew") 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:

Our unique, and comprehensive, promissory note software kit 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!

This Promissory Note Software kit 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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