Updated April 11, 2022
A New Hampshire unsecured promissory note binds two parties into an agreement that requires one party (the borrower) to make a lump-sum payment or installments toward a loaned balance in a predetermined time frame. This note is unsecured, which means the lender does not receive security if the borrower enters into default and cannot recover. The lender should exercise extra caution before lending money using an unsecured promissory note.