ronran gave an academic interpretation, and I would have been quite content to follow suit, however this is not a legal forum and I was explaining the benefit of the promissory note over having just a basic verbal unsecured loan agreement for those without the benefit of a formal legal education, a fact of which I'm sure he should have been more than aware.

Would you care to guess what the allegations, and overview, would have been without the promissory note?

I humbly suggest that it would look nothing like, "Not the best way to do business, of course, but it happens every day". Might you know this?

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Be well