Massachusetts Promissory Note Template
This Massachusetts Promissory Note Template is governed by the laws of the state of Massachusetts. It is designed to document the details of a loan between a borrower and a lender.
IMPORTANT INFORMATION: This promissory note is specifically for use within the state of Massachusetts and may not comply with laws of other states. Users should consult with a legal professional if they have questions regarding other jurisdictions.
Promissory Note Terms
Date of Note: _____[Date]_____
Borrower's Name: _____[Borrower's Full Name]_____
Borrower's Address: _____[Borrower's Street Address, City, State, ZIP]_____
Lender's Name: _____[Lender's Full Name]_____
Lender's Address: _____[Lender's Street Address, City, State, ZIP]_____
Principal Amount: $_____[Amount]_____
Interest Rate (Annual): _____[Rate]%_____
Repayment Terms:
- Initial Payment Date: _____[Date]_____
- Payment Frequency: _____[Monthly/Weekly/Bi-weekly/Other]_____
- Number of Payments: _____[Number]_____
- Amount of Each Payment: $_____[Amount]_____
- Final Payment Date: _____[Date]_____
Governing Law: This promissory note will be governed under the laws of the State of Massachusetts.
Signatures
This section confirms agreement to the terms of the promissory note by the involved parties.
Borrower's Signature: _________________________
Date: _______
Lender's Signature: _________________________
Date: _______
Note: Both parties should retain a copy of this promissory note for their records. It's recommended that all signatures be notarized, though not required by Massachusetts law, to further authenticate the document.