A promissory note is the document signed when a bank loan is executed and it specifies financial aspects of the loan. The separate indenture note will specify items such as collateral and other terms and conditions.

Question

Quizplus · Accepted Answer

A promissory note is a legal document that includes the borrower's promise to repay the loan, the amount of the loan, the interest rate, and the repayment terms. An indenture note, on the other hand, is a separate document that outlines the terms and conditions of the loan, including any collateral that is pledged as security for the loan.

A Promissory Note Is the Document Signed When a Bank