| 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:
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!
- 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
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
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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