Docstoc

Default Clauses in Note

Document Sample
Default Clauses in Note Powered By Docstoc
					These Default Clauses in Note are used in promissory notes. Each of these clauses
provides that in the e
				
DOCUMENT INFO
Description: These Default Clauses in Note are used in promissory notes. Each of these clauses provides that in the event the debtor defaults in the payment of any amounts owing under the promissory note, then certain conditions or events will happen such as the entire amount due and owing under the promissory note will become due and payable. This document is useful to a lender under a promissory note to become familiar with the options available in the event the debtor defaults. The lender should include the option in the promissory note that best fits its needs.