Loading...DOWNLOAD this New Jersey Promissory Note Form which can be used to set forth an agreement between a borrower and a lender of money in New Jersey. The parties may decide to secure the promissory note with certain collateral or leave the note unsecured. In addition, the parties can decide the terms of repayment – whether it will be all at once or in regular monthly installments.
USURY
New Jersey statute says, “Except as herein and otherwise provided by law, no person shall, upon contract, take, directly or indirectly for loan of any money, wares, merchandise, goods and chattels, above the value of $6.00 for the forbearance of $100.00 for a year, or when there is a written contract specifying a rate of interest, no person shall take above the value of $16.00 for the forbearance of $100.00 for a year.” NJ ST 31:1-1