Document background
A Promissory Note for Shares is primarily used in Irish corporate transactions where payment for shares is to be made at a future date. This document type is essential when structuring share purchases with deferred payment terms, particularly in private company transactions, corporate restructuring, or employee share schemes. The note must comply with Irish law, specifically the Companies Act 2014 and the Bills of Exchange Act 1882, and typically includes details such as payment terms, interest rates (if applicable), share specifications, and default provisions. It provides security to the seller while allowing the buyer to acquire shares before full payment, making it a valuable tool in corporate finance and M&A transactions. The document's format and content must meet specific legal requirements to be enforceable under Irish law.
