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Yes, they are legal documents. They can be used to establish debts and assets.
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∙ 10y ago
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What needs to be included in cash flow notes?
Cash Flow Notes are legally binding contracts between the borrow and the lender. They contain the details of the agreement between the two parties and are used for things like Real Estate.
Who is responsible for promissory note after your death?
The estate is responsible for the descendant's debts, including promissory notes. It is the primary reasons to open an estate is to resolve such debts. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
What are the release dates for Promissory Notes - 1915?
Promissory Notes - 1915 was released on: USA: 12 November 1915
Is a promissory note legally binding?
There is no legal requirement that a promissory note be witnessed in order to be legally enforceable. In most cases, a written agreement is usually a written confirmation of a verbal agreement. Even without a witness to the promissory there, there many ways to prove the validity of the note such as handwriting analysis and evidence of the payment of the borrowed money such as a cancelled check.
What has the author Richard B Hagedorn written?
Richard B. Hagedorn has written: 'Secured Transactions in a Nutshell' 'The law of promissory notes' -- subject(s): Promissory notes
Where can you find a template for a promissory note for a friend?
The ECSI website has lots of the promissory notes. The ECSI website also has the template which will help in the writing of the promissory note.
What has the author John Tisdall written?
John Tisdall has written: 'Laws and usages respecting bills of exchange, and promissory notes' -- subject(s): Bills of exchange, Promissory notes
Can you Pay traffic fines with promissory notes?
No, traffic fines typically require payment in the form of cash, credit/debit card, check, or online payments. Promissory notes are not accepted as a form of payment for traffic fines.
What is meant by the term cash flow notes?
Cash flow notes are legally binding contracts which document the promise of the borrower to repay the lender. They often appear in various wealth schemes involving real estate. Long story short you won't get rich quick off them and you could lose money just as easily if you aren't very careful.
What has the author Edward H Smythe written?
Edward H. Smythe has written: 'The law of bills of exchange and promissory notes' -- subject(s): Accessible book, Bills of exchange, Promissory notes
Is there any type of promissory notes that are amortized over 120 months?
All types of promissory notes can be amortized over 120 months. We can write secured and non secured notes, 1st and 2nd mortgages. car loan etc.
Where does notes receivable go in accounting statements?
Considered to be promissory notes in which the applicant/borrower is entitled to payments.
