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A promissory note, commonly known as an "IOU" is a legal contract between a borrower and a lender. The document legallly binds the borrower to repay the lender the money borrowed, plus interest if applicable. A secured promissory note is backed by collateral, such as real estate, while an unsecured note does not have collateral associated with it. A promissory note is related to a loan agreement

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

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Colorado Promissory Note: What Is It?

A Colorado promissory note is a legal written promise between two people. One person is promising to repay another person for a loan of some sort. A Colorado promissory note must be signed and dated by both parties.

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