Promissory Note - Term w/ Joint & Several Liability (Canada)

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Promissory Term Note requiring that the principal and any interest is to be paid on a specific date.

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When a person or entity (“Lender”) loans money to another person or entity (“Borrower”), the loan is typically formalized with a promissory note. A promissory note will set forth, among other things, the repayment schedule and the interest rate.

This particular Promissory Note requires the Borrower to pay off the entire principal amount of the note and any accrued interest on a specific date. It also includes language making the Borrowers "jointly and severally" liable for the debt.

This form includes special formatting features to assist you in completing the agreement.

This form can be used in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon.
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
Promissory Note(Joint and Several)
$CDN [Amount of Note (ie. $100,000)]   Due: [Payment Due Date under Note (ie. April 12, 2003)]
FOR VALUE RECEIVED, the undersigned, [Name of each Borrower under Note] (the “Borrowers”), hereby acknowledges themselves indebted to [Name of Lender under Note] (the “Lender”) and hereby jointly and severally promise to pay to or to the order of the Lender at [Address of Lender] or as otherwise directed in writing by the Lender, the principal sum of [Amount of Note (ie. $100,000)] with interest at the rate of [Interest Rate (ie. ten percent (10%) per annum)] as well after as before maturity. The entire principal sum shall be paid on [Payment Due Date under Note (ie. April 12, 2003)].
 
Dated this _____ day of ____________________, 20_____.
 
 
 
 
Witness
 
[Name of 1st Borrower]
 
 
 
Witness
 
[Name of 2nd Borrower]
 
Number of Pages3
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#28353
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