The issue of the notary is not important. The issue is the type of contract, the wording and if the contract is valid under US not HK law.
The borrowers can claim they never signed it before a notary and could have the whole contract dismissed in Court, and keep the money they borrowed. In addition, the notary could be sued by the lender for the total amount of the loan, and the notary would lose their commission.
No, but without a notary it makes it easier for one person to say "hey, I was never there, I never signed that." With a notary there is essentially a witness to the signing.
The notary seal and notary's signature does not make a document a binding contract. The signatures on a contract can be notarized. However, when a document if notarized, the notary is simply stating that to the best of their knowledge the signature is that of the person signing the document. In other words, the notary verifies a signature that they witness. A contract would be binding once the participants sign it in front of the notary and the document is notarized.
Contact any contract law attorney or an international notary.
Stamped by a notary public to confirm your identity.
Assuming you are one of the parties on the contract, Yes.
A contract which has been signed in the presence of a notary public. The signer provides identification to the notary, who then places his or her own signature on the document (usually along with an identifying stamp) to assert that the contract was actually signed by the named person.
In the US, a notary certifies the validity of a signature only. For legal advice, including contracts, see a lawyer.
Sometimes yes and sometimes no. It depends on your state laws.
Tell your state's licensing board . . . that notary should lose his/her license.
The purpose of the notary is basically positive identification of the parties involved. Contracts do not generally require notarization, but a notarized document may carry more weight in court.
The job of the notary is to verify that the person signing a document is who they say they are. Some documents require that the notary see the actual signing and some merely require the notary to verify ID. The legal ramifications of an improper or invalid notarization are that the document can be challenged more easily in court, may be completely invalid without a proper notarization, the notary could be sued/fined/charged for improperly notarizing a document, the transaction may be declared void, and other bad things.