A promissory note is, in its most basic form, a written statement containing an unconditional promise by one party to pay a definite sum of money to another party.
Often, a promissory note is used to set out the terms of a debtor/creditor relationship, and such documents are commonly drawn up, with or without legal assistance, when an individual borrows from a family member or friend.
Click here to view the article in full published by The Gazette.
If you would like to discuss arrangements for later life or are an executor who needs legal advice on the administration of an estate, please contact our dedicated Wills, Trusts and Probate team on 01603 598000 or by emailing email@example.com. Appointments are available at our Diss, Norwich and London offices or home visits by appointment.
*The information provided in this article is designed to provide useful information on the subject, not to provide specific legal advice.