51��Ƶ����

The Promissory Note Between Friends serves as a formal yet friendly documentation of a personal loan in Malaysia. This document is particularly useful when individuals wish to maintain both their friendship and financial security by clearly documenting loan terms. It provides a balance between legal protection and maintaining cordial relationships, incorporating essential elements required by Malaysian law while keeping the tone appropriate for a friendly arrangement. The document includes the loan amount, repayment schedule, and any agreed-upon interest, while complying with relevant Malaysian legislation such as the Contracts Act 1950, Stamp Act 1949, and Bills of Exchange Act 1949. This type of agreement helps prevent future misunderstandings and provides legal recourse if needed, while preserving the informal nature of the arrangement.

1. Parties: Full legal names and addresses of both the lender (promisee) and borrower (promisor)

2. Date: The date of execution of the promissory note

3. Principal Amount: The exact amount being borrowed, stated in numbers and words

4. Promise to Pay: Clear statement of the unconditional promise to pay the specified amount

5. Payment Terms: Detailed description of how and when the payment(s) will be made, including due date(s)

6. Signature: Space for signatures of the promisor (borrower) and witness(es)