Each of the following pieces of information would be found in a Promissory Note EXCEPT?

In a Promissory Note, the essential elements typically include the loan repayment schedule, lender's name, and the default interest rate. The loan repayment schedule specifically outlines how and when the borrower is expected to repay the loan, detailing the amounts and frequency of payments. The lender's name identifies the party financing the loan, establishing who is granting the credit. The default interest rate indicates the higher rate that may apply if the borrower fails to adhere to the payment terms.

On the other hand, the rights of the borrower to assign the loan are generally details that belong in a separate legal document, such as the loan agreement or the mortgage itself, rather than in the Promissory Note. The Promissory Note primarily focuses on the borrower’s promise to repay the loan and does not usually include clauses regarding the transferability of the loan rights. This distinction clarifies why the statement about the borrower's rights to assign the loan is the correct answer to the question, as it is not a standard component of the Promissory Note.