Louisiana Promissory Note Template

Want to borrow or lend money in louisiana.

Louisiana promissory note template. The louisiana unsecured promissory note template is a legal form that is entered into by two parties a lender and borrower. Failure to put it in writing can be costly. Both parties will need to agree on various aspects of the note before it can go into effect such as payment types interest rates and late fees. Click the image to zoom in and read specific clauses of the promissory note in more detail.

This legally enforceable promissory note template is all you need. Other services are free to those insured through the lsba sponsored malpractice program. A louisiana promissory note begins by choosing the type of note being created. Most services are free to members of the louisiana state bar association.

The document serves to establish the specific terms of a loan eg. The parties may agree upon the interest rate that will be charged during the term of the loan. If the borrower defaults on the balance the lender has the option to obtain the items put into security. Free promissory note template example pdf word download a blank ms word version of this promissory note or view a completed pdf sample to see what the final draft should look like.

Lenders who charge more than the louisiana limit may face serious legal repercussions. The louisiana promissory note templates are documents designed specifically for the state of louisiana and helps to ensure a lender gets reimbursed a loaned amount of money from a borrower in a predetermined set of time. 3999 1549. The note is a written statement by the borrower to promise to pay back the funds within a specific time frame and interest rate.

In louisiana the maximum amount of interest that may be charged is 12 per year. Download free printable promissory note templates that may be written in fillable adobe pdf pdf ms word doc and rich text format rtf. Louisiana promissory note template september 13 2019 by leave a comment. Download this louisiana promissory note form for documenting a loan transaction between two people in louisiana.

Notary services sold separately. Sale of document only. The louisiana secured promissory note is a binding promise from one individual called the borrower to pay back another individual called the lender in a scheduled mannerthe lender profits from the transaction by receiving interest on top receiving the original loaned amount. How to write a louisiana promissory note.

The loss prevention program is available to assist louisiana state bar association members in the prevention of legal malpractice and the improvement of office practices and procedures. How to write a promissory note. Provides louisiana promissory note forms for all your promissory note needs including installment notes demand notes notes with or without interest secured notes notes for personal loans business loans etc. One party borrows money from another for an agreed upon period of time.

With an unsecured note the borrower does not pledge assets as collateral hence being unsecured.