A written, enforceable promise to repay money.
A promissory note is a binding promise to repay a specific sum under set terms — interest rate, schedule, and what happens on default. An acceleration clause can make the entire balance due after one missed payment. Whether it’s secured (backed by collateral) or unsecured changes what’s at risk.
“Upon default, the entire remaining balance becomes immediately due” — that’s an acceleration clause.
Main AI reads your actual contract, lease, or notice and flags exactly where terms like these put you at risk — in plain language, with the law behind it.
Analyze my document free →