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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 North Carolina according to your state's specific rules and regulations.

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North Carolina Promissory Note: What Is It?

A North Carolina promissory note is a contract between a creditor and a debtor related to a loan that was given. A North Carolina promissory note can be secured or unsecured. If a North Carolina promissory note documents a loan of less than $25,000, the maximum interest rate is 16% or 6% above the six month U.S. Treasury bills.

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