A family with a funeral bill wants to pay by a means other than cash. They need to negotiate with what document?

The promissory note is the correct document for a family looking to negotiate their funeral bill through a means other than cash. A promissory note is a legally binding document where one party agrees to pay a specified sum to another party by a specific date or upon demand. This agreement outlines the terms of the repayment, which can be useful when a family wishes to defer payment or break down the cost over time.

When families face financial constraints, they may not have immediate cash available to pay funeral expenses. A promissory note allows for flexibility in payment arrangements while ensuring that the funeral service provider has legal recourse if the agreement is not upheld. This makes it an appropriate instrument for such negotiations.

In contrast, a loan agreement typically involves borrowing money from a lender and would not directly pertain to the terms of payment for a funeral bill. A credit application is a request for credit, which, while relevant to financing options, does not facilitate the specific negotiation for payment terms. An insurance policy could cover funeral expenses, but it does not serve as a negotiation tool for immediate payment situations. Therefore, the promissory note stands out as the most suitable document for this scenario.