Having full control of your documents at any moment is vital to relieve your everyday duties and enhance your efficiency. Achieve any goal with DocHub tools for document management and practical PDF file editing. Access, change and save and integrate your workflows with other protected cloud storage.
DocHub gives you lossless editing, the chance to work with any format, and securely eSign documents without the need of searching for a third-party eSignature software. Make the most of the file managing solutions in one place. Consider all DocHub capabilities right now with the free account.
A promissory note is a legally binding agreement between a borrower and a lender that outlines repayment terms for money owed. There are two types of promissory notes: secured and unsecured. An unsecured promissory note offers no collateral protection for the lender if the debt remains unpaid, thus requiring the lender to pursue legal action for restitution. In contrast, a secured promissory note includes collateral, such as an asset of value, which the lender can claim if the borrower defaults on payments. Both types serve to document the borrower's promise to repay, but the key difference lies in the presence of collateral in secured notes.
