How a Consumer Hired a Lawyer to Draft a Master Promissory Note in Texas

In 2024, a personal client in Texas sought assistance with drafting a master promissory note for a personal loan. The client intended to offer a loan to a friend to facilitate the down payment for purchasing land, and needed guidance on specifying the conditions within the note, particularly regarding the land being used as collateral. This endeavor was crucial for ensuring clarity and protection for both parties involved. As a result, the client received seven proposals from licensed attorneys, with flat fee bids ranging from $495 to $1,100, all submitted to meet the requested deadline of less than a week.