When President Obama (right) met Usain Bolt (left) he could not resist joining the world-class sprinter in striking his trademark 'lightning pose'. Before striking Bolt's signature pose, Obama praised him saying that 'nobody's ever been faster'.
Decide on a secured or unsecured promissory note for repayment. A secured promissory note requires the borrower to provide goods, property, or services as collateral, in the event the borrower defaults on the debt. The value of the collateral should be equal to or greater than the principal of the debt.
An unsecured promissory note is a legal document, or bank note, that is signed along with a loan. It states that the borrower is promising to repay the loan to the lender, as specified by the terms detailed in the loan documents and usually repeated briefly in the promissory note itself.n unsecured promissory note indicates a borrower's intention to repay a loan to the lender as detailed in the promissory note itself.