Updated April 08, 2022
A West Virginia unsecured promissory note is used for transactions in which an individual (called the ‘lender’) lends a monetary balance to another individual (called the ‘borrower’). This document structures the agreement and helps to ensure both parties are clear on how the balance will be repaid. The lender should be aware that this note is unsecured, meaning the lender will not receive an item to cover the unpaid balance if the borrower enters into default.