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A promissory note is used when one party, the issuer, is making a "promise" to pay a certain amount of money to another party, known as the payee.

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This Lease Agreement is legally binding in Alabama according to your state's specific rules and regulations.

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Alabama Promissory Note: What Is It?

An Alabama promissory note can be secured or unsecured. An Alabama promissory note is a promise to repay a debt of some sort. When the promissory note is secured, it means that if the debtor doesn't pay, the other person is entitled to take the listed property as payment. If the promissory note is unsecured, it means that if the debtor doesn't pay, there's nothing that can be taken as payment.

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