Personal promissionary note

Personal promissionary note – in the area of Finance Law, this phrase details a promissionary note, usually issued/handled to relatives or close friends, for the purpose of money loan between/among them. Since sometimes they lend money to each other without strict contract, the role of the personal promissionary note is to substitute it and to prove the terms and conditions of the money loan and its repayments towards the money lender. See also “personal loan agreement”.

Posted in: P