This document is a template for a promissory note between a lending party (Lender)
and a loaning party (Debtor). A promissory note contains an unconditional promise by
the borrower to repay the note under specified terms. As drafted, this promissory note
is unsecured. This document contains both standard clauses as well as opportunities
for customization to best fit the needs of the drafting parties.
UNSECURED PROMISSORY NOTE
AMOUNT: _________dollars ($__)
INTEREST RATE: ______percent (___%)
DUE: On Demand [Comment: User has the option to have payment
due “on demand” or at a set future date]
FOR VALUE RECEIVED, the undersigned, ______________, (the “Debtor”) hereby
promises to pay to the order of _____________________ (the “Lender”) at
_____________________________ [address] the principal sum of ________________ dollars
($___________), payable on demand, with interest thereon, at the rate of __________ percent
THIS PROMISSORY NOTE is not secured.
NO COURSE OF DEALING between the Debtor and the Lender or any delay on the part
of the Lender in exercising any rights hereunder shall operate as a waiver of any rights of the
Lender. All of the covenants, stipulations, promises, and agreements contained in this
Promissory Note made by or on behalf of the Debtor shall bind the Debtor’s heirs, executors,
administrators, successors, and assigns, whether or not so expressed.
DEBTOR MAY, at any time, without notice, bonus, or penalty, prepay or cause to be
prepaid the whole or any part of the principal amount remaining unpaid hereunder.
THIS PROMISSORY NOTE shall be governed by the laws of the State of
________________, which laws shall be applicable to the interpretation, construction, and
IN THE EVENT OF (1) payment of interest or any other amounts secured by this
Promissory Note, (2) bankruptcy or insolvency of the Debtor, (3) filing of a petition in
bankruptcy against the Debtor, or (4) the making of a proposal in bankruptcy by the Debtor, the
whole of the monies (or any part thereof) secured by this Promissory Note remaining unpaid
shall, at the option of the Lender, forthwith become due and payable and all the powers in and by
the Promissory Note, or by law conferred in case of default, shall become exercisable.
DATED this _____ day of ____________________, _______.
Name of witness: Name of Debtor:
© Copyright 2013 Docstoc Inc. 2
[Comment: Use the company signature block if the debtor is a company]
[Insert Company name and address]
I am an agent of the above-named company and I have the authority to bind the company.
© Copyright 2013 Docstoc Inc. 3
INFORMATION AND FORMS ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND
INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS
FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL DOCSTOC, INC., OR ITS AGENTS, OFFICERS, ATTORNEYS,
ETC., BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF
PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE
THE MATERIALS, EVEN IF DOCSTOC HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. They are for
guidance and should be modified by you or your attorney to meet your specific needs and the laws of your state or jurisdiction. Use at
your own risk. Docstoc® is NOT providing legal or any other kind of advice and is not creating or entering into an Attorney-Client
relationship. The information, reports, and forms are not a substitute for the advice of your own attorney. The law is a personal matter
and no general information or forms or like the kind Docstoc provides can always correctly fit every circumstance.
Note: Carefully read and follow the Instructions and Comments contained in this document for your customization to suit your specific
circumstances and requirements. You will want to delete the Instructions and Comments from open bracket (“[“) to close bracket (“]”)
after reading and following them. You (or your attorney) may want to make additional modifications to meet your specific needs and the
laws of your state. The Instructions and Comments are not a substitute for the advice of your own attorney.
◊ Where within this document you see this symbol: ◊ or an instruction states “Insert any number you choose◊,” or something similar, or
there is a blank for the user to complete, please note that although Docstoc believes the information or number may be any that the user
chooses, and that there is no law governing what the infor