What is the worst thing youve ever spent money on?

Promissory letter sample for payment

Most of the things that would be the real answers to this questions are just too humiliating to recall, and certainly too humiliating to put out on Quora, so lets say that one of the milder ones was an enormous box of purchases from the Sunset House catalog.

Now, most of you little grasshoppers are wayyyy too young to have heard of this (or, to be fair, might not even know what a catalog is :-).

So Ill step off for a sidebar and explain:,,Back in the Dark Ages when dinosaurs ruled the earth prior to the great Amazon Extinction, impulse purchases were triggered by someone printing out lots of web pages from an e-commerce site, stapling them together into something called a mail order catalog, and sending them to your home through the good offices of someone known as a Letter Carrier.

Youd then browse through the site on paper, make purchase selections which you would enter into the system with a manual, carbon-based stylus, include an offline payment in the form of a promissory note called a check, and then you would insert the completed order into a device called a mailbox.

After several days of latency, your order would be received, processed, and the same logistics used in reverse to fulfill your purchase.

n,nNow, since back in those days there was no such thing as Bazaarvoice (company), and no such thing as online reviews, the only information one had on which to base a purchase decision was the creative writing sample known as the sales copy describing the item, along with the artists rendering of the product in an idyllic state.

It is said that the the best salesman are the biggest suckers, and from birth Ive been a pretty darn good salesman.

So to a 12 year old boy, those pictures and descriptions in the catalog that my mother would receive several times a year were the things dreams were made of.

,,n,nI lusted after those things, for pages and pages: from The Worlds Smallest Sewing Machine for $2.

79, to Nudie Guest Soaps for $1; from Pocket Self-Inking Name Stamps for $1, to Flashlights with a Jolly Jumbo Face for $1.

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.

how about an Automatic Bow Maker for $1.

98? Is that cool.

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.

or what?,So when my Bar Mitzvah finally came, and a significant chunk of money was delivered into my hands, out came the Sunset House catalog, away I ordered like bride registering for jewelry at Tiffanys.

It was like an orgy, and when I finished, exhausted, I had covered the order form with nearly fifty dollars worth of catalog items.

It is difficult to express just how much that cash meant to a kid in the 1960s from a relatively strict home.

,Off to the mailbox went the order, and every day Id dash to the incoming mail (this was still when we had twice a day home deliveries!) Finally, finally after a couple of weeks this G-I-A-N-T box showed up at our door, and I was so excited that I thought I was going to explode.

I attacked that box like a Republican listening to Chris Christie, and.

.

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,[sigh] what a disappointment.

The Sea Monkeys turned out to be brine shrimp; the Self Inking name stamp needed to be re-inked every time you used it; I soon realized that I really didnt have a pressing need to make my own bows.

To a 13 year boy-turned-man, that was one of my first encounters with the cold, cruel world of reality.

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but at least it was a lesson learned, and I have never ordered useless things from a catalog since.

,,,,,nNOT!

Promissory Note sample for documents

A promissory note is essentially a written promise to pay someone.

This type of document is common in financial services and is something youve likely signed in the past if youve taken out any kind of loan.

If you decide to lend money to someone, you may want to create a promissory note to formalize the loan.

,Promissory notes may also be referred to as an IOU, a loan agreement, or just a note.

Its a legal lending document that says the borrower promises to repay to the lender a certain amount of money in a certain time frame.

This kind of document is legally enforceable and creates a legal obligation to repay the loan.

,When to Use a Promissory Note?A promissory note is used for mortgages, student loans, car loans, business loans, and personal loans between family and friends.

If you are lending a large amount of money to someone (or to a business), then you may want to create a promissory note from a promissory note template.

This note will be a legal record of the loan and will protect you and help make sure you are repaid.

,What to Include in a Promissory NoteA loan promissory note sets out all the terms and details of the loan.

,The promissory note form should include:,The names and addresses of the lender and borrower,The amount of money being borrowed and what, if any, collateral is being used,How often payments will be made in and in what amount,Signatures of both parties, in order for the note to be enforceable,The collateral referenced above is a property that the lender can seize if the note is not repaid; for example, when you buy a home, the house is the collateral on the mortgage.

,How to Customize a Promissory NotePromissory notes should be created to fit the transaction that you are involved in.

Its always good to refer to a sample promissory note when you are writing one so that you can be sure to include the right language.

There also are different types of promissory notes.

,A simple promissory note might be for a lump sum repayment on a certain date.

For example, you lend your friend $1,000 and he agrees to repay you by December 1.

The full amount is due on that date, and there is no payment schedule involved.

There may or may not be interest charged on the loan amount, depending on what youve agreed.

,A demand promissory note is one in which payment is due when the lender asks for the money back.

Usually, a reasonable amount of notice is required.

,More complicated promissory notes for transactions like mortgages and car loans will also include interest rates, amortization schedules, and other details.

Sample Promissory Note for unpaid balance

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