Updated April 08, 2022
A Hawaii unsecured promissory note is an agreement designed for two parties that adds structure and legality to a transaction involving the loaning of money. The major takeaway from this document is that it is unsecured. This means that if the borrower defaults on the balance, the lender will have no simple and effective way to be reimbursed for the money loaned. To counteract this risk, the lender should ensure the borrower is family or a friend that can be completely trusted.