ContractsCounsel Logo

Legal Questions and Answers

Get free proposals from vetted lawyers in our marketplace.

GET FREE PROPOSALS
No upfront payment required. Pay only if you hire.
Home Q&A Forum Key terms in promissory notes?

Loans

Promissory Note

Connecticut

Asked on May 21, 2023

Key terms in promissory notes?

I am a small business owner who recently loaned money to a business associate. The loan was made via a Promissory Note, which I drafted myself. I am now looking to learn more about the key terms and conditions of the note, in order to ensure the safety of my investment. I am hoping to gain a better understanding of the legal implications of the document, and how to protect my interests.

1 Attorney answer

Answer

Loans

Connecticut

Answered 383 days ago

Thomas L.

ContractsCounsel verified

Business Lawyer
Licensed in Connecticut
Free Consultation

1. How much is owed. 2. Interest rate. 3. Repayment schedule. 4. Specific defaults (something specific to the borrower) 5. General defaults - failure to pay, bankruptcy.

Use of the ContractsCounsel Q&A Forum does not create an attorney-client relationship between User and any Lawyer User. The Forum is not a substitute for legal advice from a lawyer but is intended to be educational and to help the user determine if legal services are necessary. The Forum, Content, and communications on the Forum do not constitute legal advice.
Meet some lawyers on our platform

Damien B.

19 projects on CC
CC verified
View Profile

Faryal A.

205 projects on CC
CC verified
View Profile

Sara S.

147 projects on CC
CC verified
View Profile

Danny J.

13 projects on CC
CC verified
View Profile

Find lawyers and attorneys by city