Updated April 08, 2022
An Idaho unsecured promissory note binds two parties into an agreement to help ensure a lender is reimbursed a loaned amount as well as any accrued interest from the borrower. This document is very similar to the secured version but differs in that there is no security for the lender. If the borrower defaults on the balance, the lender will have no immediate way to be reimbursed. Because of this, it is highly recommended that the lender personally know the borrower and trust him or her completely.