51Ƶ

Informal Promissory Note for the United States

Informal Promissory Note Template for United States

A legally binding document used in the United States that records a monetary loan between parties and the promise to repay under specific terms. This simple yet formal document outlines the borrowed amount, repayment schedule, any applicable interest rates, and consequences of default, while complying with state-specific regulations and the Uniform Commercial Code.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Informal Promissory Note

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Informal Promissory Note?

An Informal Promissory Note serves as a fundamental legal instrument in U.S. lending practices, particularly useful for personal loans, small business transactions, and family lending arrangements. While 'informal' in name, it creates a legally binding obligation when properly executed, documenting the essential terms of borrowing and repayment. The document must comply with state-specific requirements and the Uniform Commercial Code, making it enforceable in court while being simpler than formal commercial loan agreements.

What sections should be included in a Informal Promissory Note?

1. Date: Date of execution of the note

2. Parties: Identification of lender (payee) and borrower (maker)

3. Principal Amount: The specific sum being borrowed

4. Promise to Pay: Clear statement of promise to repay the debt

5. Payment Terms: Schedule and method of repayment

6. Signature Block: Space for signatures of involved parties

What sections are optional to include in a Informal Promissory Note?

1. Interest Rate: Terms of interest if applicable, used when loan carries interest

2. Late Payment Penalties: Consequences of missed payments, used when additional security is desired

3. Prepayment Terms: Conditions for early repayment, used when early repayment is anticipated

4. Security/Collateral: Description of assets securing the loan, used for secured notes

What schedules should be included in a Informal Promissory Note?

1. Payment Schedule: Detailed breakdown of payment dates and amounts

2. Collateral List: Itemized list of security/collateral if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

United States

Publisher

Genie AI

Document Type

Promissory Note

Sector

Banking

Cost

Free to use
Clauses














Industries

Uniform Commercial Code (UCC) - Article 3: Federal legislation governing negotiable instruments, including promissory notes. Establishes fundamental requirements for negotiability and enforceability of the note.

State-Specific Laws: Individual state requirements for promissory notes, including state usury laws setting maximum legal interest rates and state-specific statute of limitations for debt collection.

Truth in Lending Act (TILA): Federal law requiring disclosure of credit terms, applicable when the promissory note is used for consumer credit purposes.

Statute of Frauds: Legal requirement that certain contracts, including promises to pay debt, must be in writing to be enforceable.

Required Elements - Party Identification: Legal requirement to clearly identify all parties involved in the promissory note (lender and borrower).

Required Elements - Promise to Pay: Explicit statement of the borrower's promise to repay the loan amount.

Required Elements - Definite Amount: Clear specification of the exact amount being borrowed/to be repaid.

Required Elements - Payment Terms: Detailed schedule and terms of repayment, including installment amounts and due dates.

Required Elements - Interest Rate: Specification of any applicable interest rate, ensuring compliance with state usury laws.

Required Elements - Execution Date: Clear statement of the date when the promissory note is executed.

Required Elements - Signatures: Valid signatures of all parties involved to make the document legally binding.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Promissory Note For Payment Of Debt

A U.S. legal document establishing a borrower's promise to repay a specific sum to a lender under defined terms.

find out more

Promissory Note Money Loan

A U.S. legal document establishing terms and conditions for a monetary loan between parties, governed by federal and state lending laws.

find out more

Promissory Note Personal Guarantee Language

A U.S. legal document combining a promissory note with a personal guarantee of repayment, providing additional security for lenders.

find out more

Promissory Note Payable To Order

A U.S. legal instrument containing a written promise to pay a specified sum to a named party or their order, governed by the UCC.

find out more

Promissory Note Lump Sum Payment

A U.S. legal document containing a written promise to pay a specified sum of money in a single payment at a future date.

find out more

Promissory Note Lien

A U.S. legal document combining a promise to repay with a security interest in property, governed by federal and state laws.

find out more

Promissory Note In English

A legally binding document evidencing a debt and repayment terms, enforceable under U.S. law.

find out more

Payment Plan Promissory Note

A U.S. legal document establishing loan terms and scheduled repayment obligations between lender and borrower.

find out more

Promissory Note For Installment Payments

A U.S. legal document establishing a borrower's promise to repay a loan through scheduled installment payments.

find out more

Simple Promise To Pay Letter

A legally binding document used in the United States that formally acknowledges a debt and commits to its repayment under specified terms.

find out more

Promissory Note To Pay Back Money

A legally binding U.S. document containing a written promise to repay a specific sum of money under defined terms.

find out more

Promissory Note For Family Loan

A U.S. legal document that formalizes and documents the terms of a loan between family members.

find out more

Contract To Pay Back Money

A U.S.-governed agreement documenting loan terms, repayment obligations, and security arrangements between a lender and borrower, compliant with federal and state lending laws.

find out more

Unsecured Promissory Note Installment Payments

A U.S. legal document establishing terms for an unsecured loan to be repaid through scheduled installment payments.

find out more

Second Deed Of Trust Promissory Note

A U.S. legal instrument combining a promissory note with a secondary security interest in real property, subordinate to a first deed of trust.

find out more

Promissory Note For Stock Purchase

A U.S. legal document combining a promissory note with stock purchase terms, enabling payment for company shares over time.

find out more

All Inclusive Promissory Note

A U.S. legal document that combines multiple loans into a single promissory note with comprehensive payment terms.

find out more

Promissory Note Secured By A Deed Of Trust

A U.S. legal instrument combining a promise to pay with property security through a deed of trust.

find out more

Purchase Money Promissory Note

A U.S. legal document evidencing a debt obligation created to finance the purchase of property or assets, detailing repayment terms and conditions.

find out more

Due On Demand Promissory Note

A U.S. legal instrument documenting a debt obligation payable upon the lender's demand, governed by state laws and the UCC.

find out more

Private Loan Promissory Note

A U.S. legal document that establishes the terms and conditions of a private loan agreement, creating an enforceable obligation for repayment.

find out more

Hard Money Loan Promissory Note

A U.S. legal document establishing terms for a high-interest, asset-backed loan typically secured by real estate.

find out more

Easy Promissory Note

A U.S.-compliant written promise to repay a specified sum of money under defined terms and conditions.

find out more

General Promissory Note

A legally binding U.S. document containing a written promise to repay a specific sum of money under defined terms.

find out more

Quick Promissory Note

A legally binding U.S. document containing a written promise to pay a specified sum of money under defined terms.

find out more

Generic Promissory Note

A legally binding document used in the U.S. containing a written promise to pay a specified sum under defined terms.

find out more

Unsecured Promissory Note Lump Sum Payment

A U.S. legal document evidencing an unsecured debt to be repaid in a single payment, with specified terms and conditions.

find out more

Standby Promissory Note

A U.S.-governed financial instrument documenting a contingent promise to pay a specified sum under defined terms and conditions.

find out more

Refinance Promissory Note

A U.S. legal document that establishes new terms for an existing loan, replacing the original promissory note with updated financing conditions.

find out more

Promissory Note Signed By Borrower Only

A U.S. legal document containing a written promise to pay a specified sum of money, signed only by the borrower.

find out more

Promissory Note Shareholder Loan To Corporation

A U.S. legal document evidencing a loan from a shareholder to their corporation, including terms of repayment and interest.

find out more

Partial Claim Promissory Note

A U.S. legal document evidencing a borrower's promise to repay a portion of a debt, commonly used in loan modifications and government-backed mortgage programs.

find out more

Mobile Home Promissory Note

A legally binding U.S. document that outlines the terms and conditions of a loan for purchasing a mobile home, subject to federal and state regulations.

find out more

Medical Promissory Note

A U.S. legal document establishing a patient's promise to pay for received medical services, including payment terms and conditions.

find out more

Lender Promissory Note

A U.S. legal document representing a borrower's written promise to repay a loan under specified terms.

find out more

Consumer Promissory Note

A U.S. legal document that establishes the terms of a consumer loan, including repayment obligations and interest rates.

find out more

Business Loan Promissory Note

A U.S. legal document evidencing a business loan agreement, including loan amount, terms, and repayment obligations.

find out more

Standard Promissory Note Secured

A U.S. legal document evidencing a loan agreement secured by collateral, including payment terms and security details.

find out more

Installment Loan Agreement Promissory Note

A U.S.-governed agreement establishing terms for an installment loan, incorporating both loan agreement and promissory note elements.

find out more

Personal Guarantee On Promissory Note

A U.S. legal document where a guarantor assumes responsibility for another party's debt obligation specified in a promissory note.

find out more
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it