Is a promissory note the same as a loan?

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Breana Mosciski asked a question: Is a promissory note the same as a loan?
Asked By: Breana Mosciski
Date created: Sun, May 23, 2021 4:14 AM
Date updated: Sun, Sep 18, 2022 11:01 AM

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Top best answers to the question «Is a promissory note the same as a loan»

A promissory note is a simple document that is not as complex as a loan agreement, and may be shorter and less detailed… Unlike a promissory note, a loan agreement imposes obligations on both parties, which is why both the borrower and lender must sign the agreement.

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