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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.loan agreement

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

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Hawaii Promissory Note: What Is It?

A Hawaii promissory note is a written repayment agreement between two people. The purpose of a Hawaii promissory note is to list out repayment information on a loan or if something is sold that will be paid in installments. This document should list the amount of the payment, when the payment is due each month, and what happens if the payment is not made.

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