Quick Promissory Note Template for United States

Uniform Commercial Code (UCC) - Article 3: Federal regulations governing negotiable instruments, including promissory notes. Establishes requirements for negotiability, enforcement, and standards for transfer and collection.

State-Specific Laws: Individual state regulations that may affect promissory notes, including variations in requirements, state usury laws setting maximum interest rates, and state-specific enforceability requirements.

Truth in Lending Act (TILA): Federal regulations requiring disclosure of credit terms, applicable when the promissory note is used for consumer credit purposes.

Statute of Frauds: Legal requirement that certain contracts, including promises to pay debt, must be in writing to be enforceable.

Statute of Limitations: State-specific time limits for enforcing the note, typically ranging from 3-6 years for written contracts.

Required Elements: Essential components including clear promise to pay, definite amount, specific payment terms, date of execution, signatures of parties, and applicable interest rate.