View the list of Sample Business Letters

Promissory Note (In Lieu of Open Account Debt)

Disclaimer: Be aware that some of these sample letters have legal, financial, or other implications. If you are not sure about the use of any letter, consult with an appropriate professional first.

Promissory Note (In Lieu of Open Account Debt)

PROMISSORY NOTE
(In Lieu of Open Account Debt)








FOR VALUE RECEIVED, the undersigned promise to pay to the
order of _, the sum of _ ($_) Dollars, together with interest
thereon at the rate of _% per annum on the unpaid balance.
Said principal and interest shall be payable in the
manner following: (Describe terms)


_


The undersigned may prepay this note without penalty. In
the event any payment due hereunder is not paid when due, the
entire balance shall be immediately due upon demand of any
holder. Upon default, the undersigned shall pay all reasonable
attorney fees and costs necessary for the collection of this
note.
This note is executed to evidence a certain existing
indebtedness due the payee from the undersigned relative to a
certain open account balance as of this date, and this note
shall not be construed as a separate obligation.

Signed under seal this _ day of _, 19_.








_______________________________



   


 

Reprinted with the permission of 4hb.com . All Rights Reserved.