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A standard form of simple promissory note used to document a demand loan. A promissory note is an unconditional promise to pay made by a person (the “payor” or “maker”) to the “payee” or “holder” (the person to whom the note is payable) or “to bearer” (the person in possession of a note that is payable to bearer). A promissory note can be either payable on demand or at a specific time. This is a precedent form of promissory note that is payable on demand. Promissory notes are often used in sales transactions where payment for goods is on credit or for other delayed payment transactions. For further information on the subject, visit Corporate Law.

FL Dr@ft Document Automation Terms of Use

In addition to the Terms of Use and Privacy Policy applicable to the Fauri Law site generally, which are incorporated by reference to these terms, the following terms apply to your use of this Fauri Law document generation system and your agreement to these terms is required before you are permitted to use the system.

 The FL Dr@ft (as defined below) are provided for your reference only and have been developed for companies incorporated in Canada.

You acknowledge and agree that the making available of these automated documents and questionnaires (the “FL Dr@ft”) to you by Fauri Law shall not create any attorney-client or other confidential or special relationship between you and Fauri Law and does not constitute the provision of legal advice or other professional advice by Fauri Law. You should seek advice from a lawyer licensed in the relevant jurisdiction(s), as well as a tax professional, before relying on the FL Dr@ft. Additionally, the information provided in the FL Dr@ft and the questionnaire does not constitute tax advice. You further agree and acknowledge that the FL Dr@ft documents have not been prepared with your specific circumstances in mind, may not be suitable for use in your business, and do not constitute tax advice. Relying on these FL Dr@ft documents, you assume all risk and liability that may result. You should not use FL Dr@ft documents and you should consult your tax, accounting and/or legal advisors in the event the business you are considering organizing has material existing assets, liabilities or operations, or if any assets or contributions are being made by a founder that would cause the value of the company to be anything other than minimal.

 Review all documents carefully for accuracy before using them.

FAURI LAW PROVIDES THESE TERMS ON AN “AS IS” BASIS, AND SPECIFICALLY DISCLAIM ALL WARRANTIES, TERMS, REPRESENTATIONS AND CONDITIONS WHETHER EXPRESS, IMPLIED, OR STATUTORY, AND INCLUDING ANY WARRANTIES, TERMS, REPRESENTATIONS AND CONDITIONS OF MERCHANTABILITY, SATISFACTORY QUALITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, OR NONINFRINGEMENT. WHILE WE TAKE PRECAUTIONS TO PROTECT THE SECURITY OF YOUR INFORMATION, WE CANNOT GUARANTEE IT. You confirm that you have the authority to share any information that you provide about any entity or other individuals. In the ordinary course of the document generation software powering the FL Dr@ft, the software may temporarily store and locally cache data you enter (including copies of the resulting documents generated). You further confirm that any information you provide is non-confidential. We cannot and do not guarantee the confidentiality or security of any data you provide.

 These terms and the operations or availability of the FL Dr@ft document automation may be changed by Fauri Law, with or without notice, at its sole discretion.