What is a promissory note and security agreement?

Answer A promissory note and a security agreement are legally binding documents that a borrower will sign when he wants to borrow money. The security agreement is only needed if collateral is involved wit... Read More »

Top Q&A For: What is a promissory note and security agreement

Is a promissory note a promissory estoppel?

Promissory estoppel is not a promissory note. Promissory estoppel occurs when a person relies on a promise and has an economic detriment due to the reliance on the promise. Due to the reliance on t... Read More »

What is a promissory note?

A promissory note is a promise to repay a debt, according to The note details the date that payments are due, along with specific terms agreed upon by the parties involved.The Basics... Read More »

What is a non-recourse promissory note?

A promissory note is a contractual agreement to repay a loan or other debt. A non-recourse promissory note limits the lender's recourse should the borrower default on the loan.UsesNon-recourse prom... Read More »

What is the meaning of a promissory note?

Most lenders use some form of legal note to ensure repayment of loans. One of these is called a promissory note. For college students who use loans for their education, most lenders require a promi... Read More »