Non-Negotiable Demand Note

A Non-Negotiable Demand Note, under USA law, is a legally binding document that outlines a formal and unconditional promise to repay a specified amount of money borrowed from one party to another. This legal template typically includes details such as the borrower's name, the lender's name, the principal amount borrowed, the interest rate (if applicable), the repayment terms, and the due date for repayment. Unlike a negotiable note, a non-negotiable demand note restricts any transfer or assignment of the debt to third parties, ensuring that only the original parties involved have legal rights and obligations. This template serves as a formal agreement between the parties, specifying the terms and conditions of the loan, and can be used in various situations, such as personal loans, business financing, or real estate transactions.