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.
A promissory note is simply a contractual agreement by which one party (the borrower, or payor) makes an unconditional promise in writing to pay a sum of money to the other (the lender, or payee), either at a fixed or determinable future time or on demand of the payee, under specific terms. promissory note is simply a contractual agreement by which one party (the borrower, or payor) makes an unconditional promise in writing to pay a sum of money to the other (the lender, or payee), either at a fixed or determinable future time or on demand of the payee, under specific terms.