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Promissory note [In lieu of open account debt]


For value received, the undersigned promise to pay to the order of ______________, the sum of ________________ (amount), together with interest thereon at the rate of _____% per annum on the unpaid balance.

Said principal and interest shall be payable in the manner following: ________________________________________________ (Describe terms).

The undersigned may prepay this note without penalty. In the event any payment due hereunder is not paid when due, the entire balance shall be immediately due upon demand of any holder. Upon default, the undersigned shall pay all reasonable Attorney fees and costs necessary for the collection of this note.

This note is executed to evidence a certain existing indebtedness due the payee from the undersigned relative to a certain open account balance as of this date, and this note shall not be construed as a separate obligation.

Signed under seal this _____________ day of _______________, 19____.

_______________________________





Promissory note [Demand]


For value received, the undersigned jointly and severally promise to pay to the order of _________________, the sum of __________ (amount), together with interest of ____% per annum on the unpaid balance. The entire unpaid principal and any accrued interest shall be immediately payable upon demand of any holder of this note.

Upon default in making payment within ______ days of demand, the undersigned agree to pay all reasonable legal fees and costs of collection to the extent permitted by state law. This note shall take effect as a sealed instrument and be enforced in accordance with the laws of the payee’s state.

Dated: _____________

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