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promissory notes

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promissory notes

https://www.noteinvestmentcapital.com/are-promissory-notes-legally-binding  
If you're an investor who's considering buying promissory notes, it's important to make sure you're dealing with a reputable company. Promissory notes are securities, which means they must be registered with the SEC or state securities regulators. If you're not sure if a company is legitimate, you can check with the FINRA BrokerCheck or the Better Business Bureau. A promissory note also contains several important terms and conditions. For example, a pre-payment clause will specify the conditions under which you can pay off your loan early. Sometimes, this can mean paying a fee. There's also a severability clause, which says that if one part of the note is deemed unenforceable, it won't invalidate the rest of the note. Promissory notes also contain several other terms, including the amount of money the lender is lending and the interest rate. It also lists the date of issuance, repayment schedule, and maturity date. It should also specify what happens if the borrower defaults. This ensures that both parties are aware of the conditions and terms of the loan agreement.