DEMAND PROMISSORY NOTE
FOR VALUE RECEIVED, the undersigned jointly and severally promise to pay to the order of ________________________________, the sum of __________________________________ dollars ($ ), together with interest at a rate of _____ percent ( %) per year on the unpaid balance. The entire principal and any accrued interest shall be fully and immediately payable UPON DEMAND of any holder of this note.
If payment is not made within_____ days of demand, this note may be turned over for collection. In the event that this note is turned over for collection, the undersigned agree to pay all reasonable legal fees and costs of collection to the extent permitted by law. This note shall take effect as a sealed instrument and be enforced in accordance with the laws of the payee's state. All parties to this note waive presentment, notice of non-payment, protest and notice of protest, and agree to remain fully bound notwithstanding the release of any party, extension or modification of terms, or discharge of any collateral for this note.
These forms are provided AS IS. They may not be any good. Even if they are good in one jurisdiction, they may not work in another. And the facts of your situation may make these forms inappropriate for you. They are for informational purposes only, and you should consult an attorney before using them.