Basic Demand Note - Free Legal Forms and Contracts

Free, sample, example

DEMAND NOTE

Date: _________________________

On demand, the undersigned, for value received, jointly and severally promises to pay to the order of _____________________________ [insert name of lender] the sum of _____________________________________________ dollars ($________.00) together with interest thereon from the date hereof until paid at the rate of _______% per annum.

In the event this note is not paid when due, the undersigned shall pay all attorney’s fees and reasonable costs of collection.

NOTICE TO BORROWER: THIS IS A DEMAND NOTE AND SO MAY BE COLLECTED BY THE LENDER AT ANY TIME. A NEW NOTE MUTUALLY AGREED UPON AND SUBSEQUENTLY ISSUED MAY CARRY A HIGHER OR LOWER RATE OF INTEREST.

______________________________________
[Maker’s signature]

______________________________________
[Maker’s typed or printed name]

NOTICE TO CO-SIGNER: YOUR SIGNATURE ON THIS NOTE MEANS THAT YOU ARE EQUALLY LIABLE FOR REPAYMENT OF THIS LOAN. IF THE BORROWER DOES NOT PAY, THE LENDER HAS A LEGAL RIGHT TO COLLECT FROM YOU.

______________________________________
[Co-signer’s signature]

______________________________________
[Co-signer’s typed or printed name]

Witnessed:

______________________________________
[Witness’s signature]

______________________________________
[Witness’s typed or printed name]