Business Docx: Secured Promissory Note
The secured promissory note is another essential piece of the documentation for a purchase when the buyer borrows money for the transaction. This may occur as a transaction between individuals, among entities, or some combination of parties. There is much overlap between the gift and sale (and asset protection) strategies used in traditional estate planning as well as in business planning; the secured promissory note is a good tool in either case.
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