Unsecured Promissory Note Template California

Disclaimer

The following document is a general template for a promissory note governed by California law. It is provided for informational purposes only and does not constitute legal advice. Users should consult a qualified attorney to customize this document to their specific situation and ensure compliance with all applicable laws and regulations. The use of this template is at the user’s sole risk, and we disclaim any liability for errors, omissions, or legal consequences resulting from its use without proper legal review.

Please note: This is a sample template for an Unsecured Promissory Note in California. The wording may vary slightly depending on specific circumstances and legal requirements. Consult a legal professional for personalized advice.

Unsecured Promissory Note Template (California)

Parties:

Borrower: Alice Johnson
Address: 789 Maple Street, Los Angeles, CA 90001

Lender: Bob Williams
Address: 456 Oak Avenue, Los Angeles, CA 90002

Loan Amount and Terms:

The Borrower promises to pay the Lender the principal sum of $10,000, with interest at a rate of 5% per annum. Payments are due in full on or before ___________________. The Borrower shall make payments via check or electronic transfer to the account designated by the Lender.

Unsecured Loan:

This loan is unsecured, and no collateral is required or pledged as security for repayment.

Repayment Schedule:

The Borrower shall repay the total amount of principal and interest in accordance with the schedule below:

• First installment of $________ due by ___________________
• Subsequent installments as detailed in the repayment schedule, until full repayment

Default:

In case of default, the Lender may pursue all legal remedies available under California law. Default occurs if the Borrower fails to make any scheduled payment within 15 days of the due date.

Governing Law:

This note shall be governed by and construed in accordance with the laws of the State of California.

Additional Terms:

• The Borrower waives presentment and notice of dishonor.
• This agreement constitutes the entire understanding between the parties regarding the loan.
• Any amendments must be in writing and signed by both parties.

Los Angeles, ______________________