Unconditional Promissory Note (4 Pages)
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UnconditionalPromissoryNote
$29.00
This is an Unconditional Promissory Note to be used in the context of a business agreement. In the Form below, the type of business agreement referred to is a stock purchase agreement, but this Form could be used in other types of business agreement situations as well.
This is an Unconditional Promissory Note to be used in the context of a business agreement. In the Form below, the type of business agreement referred to is a stock purchase agreement, but this Form could be used in other types of business agreement situations as well.
In this Form, there are multiple Debtors, who are jointly and personally liable. This Form could be modified to involve just a single Debtor, if desired. This Form also refers to multiple Holders. Again, it could be modified to involve just a single Holder.
The Note described in this Form is said to be secured by both a Guaranty and a Security Agreement. Those are separately prepared Agreements, each with their own terms, which often accompany a Promissory Note such as this.
The Form recites various dates involving late payment, etc. These can be modified by discussion and agreement of the parties. Some Notes offer more generous grace periods; others do not. Some have more serious penalties for late payments, others do not.
Author:
Steven G. Siegel is president of The Siegel Group, a Morristown, New Jersey - based national consulting firm specializing in tax consulting, estate planning and advising family business owners and entrepreneurs. Mr. Siegel holds a BS from Georgetown University, a JD from Harvard Law School and an LLM in Taxation from New York University.
He is the author of several books, including: Planning for An Aging Population; Business Entities: Start to Finish; Taxation of Divorce and Separation; Income Taxation of Estates and Trusts, Preparing the Audit-Proof Federal Estate Tax Return, Putting It Together: Planning Estates for $5 million and Less, Family Business Succession Planning, Business Acquisitions: Representing Buyers and Sellers in the Sale of a Business; Dynasty Trusts; Planning with Intentionally-Defective Grantor Trusts; The Federal Gift Tax: A Comprehensive Analysis; Charitable Remainder Trusts, Grantor Trust Planning: QPRTs, GRATs and SCINs, The Estate Planning Course, The Retirement Planning Course, Retirement Distributions: Estate and Tax Planning Strategies; The Estate Administration Course, Tax Strategies for Closely-Held Businesses, and Tort Litigation Settlements: Tax and Financial Issues.
Mr. Siegel has lectured extensively throughout the United States on tax, business and estate planning topics on behalf of numerous organizations, including National Law Foundation, AICPA, CCH, National Tax Institute, National Society of Accountants, and many others. He has served as an adjunct professor of law at Seton Hall and Rutgers University law schools.
The Siegel Group provides consulting services to accountants, attorneys, financial planners and life insurance professionals to assist them with the tax, estate and business planning and compliance issues confronting their clients. Based in Morristown, New Jersey, the Group has provided services throughout the United States. The Siegel Group does not sell any products. It is an entirely fee-based organization. Contact the Siegel Group through its president, Steven G. Siegel, e-mail: [email protected].
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