What happens if the borrower doesn't pay? If you have a promissory note and fail to make payments as agreed upon, the lender ...

Sign and date the note, keeping a copy for your records. In some jurisdictions, you'll need a witness and notary to make the document legally binding. Promissory Notes for Friends and Family Loans ...

A Master Promissory Note, or MPN, is a legal document that outlines ... If you default and don't make alternative arrangements to repay your debt with your lender, the federal government has ...