A promissory note is a crucial document for large transactions. It is used by businesses in consumer lending and other businesses. Some other examples of transactions where the promissory note can be used include home purchases and student loans. Owing to the importance of promissory note, it must be created correctly so that it serves the purpose for which it was intended. It must specify the method of payment and at the same time be simple but reflect the terms of the agreement. These components make the note legally enforceable. Below are some tips t you should consider when writing a promissory note: