Businesses often require customers with poor credit ratings to sign a promissory note as a condition for obtaining credit.

Question

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This is true as businesses want some sort of assurance that the customer will pay back the credit given, especially if the customer has a history of poor credit. A promissory note lays out the terms and conditions of the credit agreement and serves as a legal document that the customer will repay the debt.

Businesses Often Require Customers with Poor Credit Ratings to Sign