Updated April 08, 2022
A Massachusetts unsecured promissory note aids the lender of a monetary balance in getting his balance returned with the addition of interest. The template details the requirements that the borrower will need to follow and the penalties that will follow in the case he or she doesn’t. Because this version is unsecured, the lender has very little financial protection if the borrower were to default on the balance. Because of this, we recommend the lender to only deal with family, friends, and/or those with a high credit score.