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Web when you need to write a promissory note for payment, you want to be sure that all the right information is in the note so that it can be useful later on. An unsecured promissory note is a document that details the borrowing of money from one individual or entity to another without security if. If the borrower is in default under this note or is in default under another provision of this note, and such default is not cured within the minimum allotted time by law after written notice of such default, then lender may, at its option, declare all outstanding sums owed on this note to be immediately due and payable. A promissory note is a document that sets out all the details of a loan that has been made between two parties.