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When a promissory note is secured, the lender is given the right to take a specific piece of property, known as collateral, to act as payment for all or part of the loan if the borrower defaults on the payment.
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The most secure digital platform to get legally binding, electronically signed documents in just a few seconds. The document holds the borrower accountable for paying back the money (plus interest, if any). Generally, the promissory notes involve the following elements; The Payee of the Promissory Notes.
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