Promissory Note Example Texas. A Promissory Note Texas is a note that is specifically meant for use within Texas. The person lending the money and the person borrowing the money may decide on the interest.
The Texas promissory note templates are documents that record the major details regarding a money lending transaction between a lender and a borrower.
Example of a Promissory Note A promissory note is.
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A promissory note or IOU is a signed promise to pay a sum of money (debt or loan) under specific terms and amount of time. A promissory note may consist of various terms and conditions related to indebtedness like the principal amount, date of maturity, the rate of interest, terms of repayment, issue date, name and signature of the drawer, name of the drawee and so forth. The maker of the promissory note is known as the borrower or debtor and records the amount owed in a liability account such as Notes Payable.
