What is a simple bill?
A simple bill is a basic agreement between two sides, referred to as the manufacturer and recipient. The manufacturer shall return the specified amount of money to the recipient or creditor, in or before the specified date or when receiving the request from the recipient. This distinguishes it from a simple Iou, which does not determine the time period for the return on the borrowed amount. A simple bill is usually for less money and usually only requires very basic information. This is a minimum basic agreement that usually includes at least the amount of the loan principle, any interest that will be added, and the date on which the loan must be repaid. Most bills also add relevant information such as addresses and social security or Numbers driving license. Some will include other conditions, such as what would happen if the manufacturer died or what happens in the case of the default settings. No matter what information is added, both sides must sign in order to be binding.
as loans, simple bills can be secured or unsecured. Secure notes will contain some type of property as a collateral and are more often used in less personal business arrangements. Unsecured notes do not have this requirement and are more often seen among relatives or friends. Regardless of this, unsecured simple bills are considered to be legal contracts if they are correctly completed.
The origin of a simple bill was traced back for several thousand years. At that time, it has not changed so much, except perhaps the addition of the manufacturer and possibly the recipient's address and other unique identification data. Trozistoria of Ughota, a simple bill of exchange was even used in some countries and jurisdictions as a legal payment, although this is not very predominant today.
One of the advantageous than easy use of simple shift is the availability of download samples. Many legal aspects have sample documents that are either very muchbasic or specific to local jurisdiction. Most downloads are free, although if you want a more specific note, it can cost a small fee. If any money is lent, even between friends and family, there is no reason to sign a simple bill. There may be confusion, anger and possible legal expenses.