A promissory note is the document signed when a bank loan is executed, and it specifies financial aspects of the loan.

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A promissory note is a legal instrument that is signed by the borrower when they take out a bank loan. It outlines the terms and conditions of the loan, including the interest rate, repayment schedule, and any other fees or penalties associated with the loan. It serves as a binding contract between the borrower and the lender, and failure to repay the loan according to the terms of the promissory note can result in legal action taken against the borrower.

A Promissory Note Is the Document Signed When a Bank