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Promissory note template

Any questions regarding Promissory Notes

Promissory note template

Postby TheMezKing » Sat May 13, 2017 2:15 am

Hey I was hoping some one could help me, by sending me a link to a template promissory note, and a template coving letter that goes with it. I've tried downloading them from the links on this site but none of the links work anymore unfortunetly.
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Re: Promissory note template

Postby aarons1950 » Sat May 13, 2017 9:09 am

Be carefull sending a promissory note because its an acknowlegement of the debt and a promise to pay it . A prom note is not a payment but is a binding promise to pay the debt when the crediter demands payment. So if you dont' have the means to pay it when the crediter calls in the prom note, you might find yourself in a hole.
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Re: Promissory note template

Postby TheMezKing » Sat May 13, 2017 10:23 pm

thanks for the advise but dont worrie I have researched the subject and have more research to do, and I'm not going to do anything till I'm completely sure about it.

But I still need the template for the promissory note and the cover letter if some one could provide a link for me I will be very gratefull
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Re: Promissory note template

Postby Topher » Sun May 14, 2017 7:03 pm

It all depends on who you are granting the prom note to, a creditor can only accept a bank note or cheque to discharge a debt s123 CCA, I guess it depends who the creditor is. Is it you, the OC..... a DCA defiantly isn't. There is nothing to call in, they'll prob ask for bank notes as this is what they trade in, a prom note is cash, it just doesn't have legal tender status. Its worth mentioning if no one has stipulated what specie of payment the debt should be paid in then whats the problem (assuming its related to a debt). Id bet they have already been accepting bank deposits, which are proms to pay and defiantly not legal tender. Its different if your depositing, you need a third party. If you want to know exactly how to construct one read the United Nations International promissory notes and Bills of Exchange Directive I posted, a few links down in the PN forum. If you understand equity then its much more difficult for them to demand another specie of negotiable instrument, can't help with that I'm just getting into it myself. Good luck
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