What is the difference/ benefits of a loan note being written as a "Demand Note" versus "Promissory Note"?
I am loaning money to a trusted friend and they will sign a note to make it OK for my accountant so she can deduct interest payments and I can claim them as income. I have two “stock” note formats one a Demand Note, the other Promissory Note. What are the benefits / risks for me.
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