Getting complete control over your papers at any moment is important to relieve your everyday tasks and boost your productivity. Accomplish any objective with DocHub features for document management and hassle-free PDF file editing. Access, change and save and incorporate your workflows with other safe cloud storage.
DocHub provides you with lossless editing, the opportunity to use any format, and safely eSign papers without the need of searching for a third-party eSignature option. Make the most of your document managing solutions in one place. Consider all DocHub functions right now with your free profile.
A promissory note is a legally binding agreement between a borrower and a lender detailing repayment terms. There are two types: secured and unsecured. An unsecured promissory note offers no collateral protection for the lender if the borrower defaults, requiring the lender to pursue legal action for repayment. In contrast, a secured promissory note includes collateral, such as an asset, to protect the lender in case of default. Both note types serve as simple agreements for loans, but the secured note provides additional security through collateral. The main purpose of an unsecured note is to specify the borrower’s commitment to repay the loan.