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Do all parties on a promissory not have to sign to be inforceable?
Wiki User
∙ 10y ago
A promissary note is a legal document stating the intent to pay. This is typically used in car purchases when the purchaser is going to bring a downpayment in at a later date. A promissary note does not have to be signed by both parties to be inforceable.
Wiki User
∙ 10y ago
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If a contract is not enforceable is it valid in Va?
The contract is always inforceable by law. And all the parties are legally perfoming there contracts.
What enables private agreements to be legally enforceable?
Generally one can write up a contract and have all parties sign it as well as a few witnesses to the signing. Or, if it's just a loan one can fill out a promissory note which is essentially the same thing but a bit less hassle.
Does a promissory note need a signature?
Please see the resource center at www.one2onelending.com for all of your promissory note questions.
What constitutes fraud in an all inclusive promissory note?
No collateral
Bank credit instrument in term of promises to pay versus orders to pay?
The instrument in question is promissory note or order to pay. This documented noticed is legal proclamation that all parties involved are to understand that the payee is in debt to lender.
How can i use promissory note to file a complaint or lawsuit against the debtor?
In an action on a promissory note, the promissory note itself is evidence. Give it to your attorney, who is filing the suit, because he will need all the relevant evidence to pursue the lawsuit.
Do both parties have to be there to sign the paper?
If "parties" means grantor and grantee, then the answer is no. Only the grantor usually signs a deed, unless there are restrictive covenants to which the grantee will be bound. If "parties" means multiple people who currently own the property, then the answer is yes, all selling parties need to sign, either all present at once, or by power of attorney.
What is Difference between cheque and promissory note?
The following are the main differences between a Bill of Exchange and a Promissory Note:A Bill of Exchange is an unconditional order to pay money, whereas a promissory note is an unconditional undertaking or promise to pay money to a certain person.In a Bill of Exchange, there are three parties, viz., the drawer, the drawee and the payee. In a Promissory Note, there are only two parties, viz., the Maker and the Payee.In case of usance (Time) bill, acceptance of the bill is necessary, whereas in a promissory note no such acceptance is required.While foreign bill of exchange is drawn in sets of three, foreign promissory note requires no such sets.In case a foreign bill of exchange is is dishonoured, protesting is compulsory. But when a foreign promissory note is dishonoured, no protesting is required.In case a bill of exchange is dishonoured, a notice of dishonour is required to be given by the holder to the maker of the bill (= drawer). However, in case a promissory note is dishonoured, no notice of dishonour is required to be given by the holder of the maker of the promissory instrument.The liability of the drawer (= maker) of a bill of exchange is secondary, whereas, the liability of the maker of a promissory note is primary.A bill of exchange is drawn for financing trade, whereas, the liability of the maker of is a promissory note is primary.When a bill of exchange is made payable to the bearer, it is not considered as illegal. But a Promissory Note, which does not contain the payee's name, but states that it is payable to bearer, it becomes illegal.In a bill of exchange, the drawee can put conditions subject he will accept the bill. but in a promissory note a maker cannot put any conditions on it.M.J. SUBRAMANYAM, BANGALORE
In a civil action where it is not certain that all interested parties were given notice does the Court have jurisdiction to hear testimony even if they wait to sign an order?
If all parties were given notice of the hearing and none asked for a continuance or postponement then the court will continue with the hearing.
When property deed has etal on it do all partys require to sign if property is sold?
Yes all parties involved in a real estate transaction must sign the deed if they are owners of the property and wish to pass ownership on to another party.
What is an affidavit of sale?
An affidavit of sale or bill of sale is a document that records a transaction. All parties involved in the transaction must sign this document.
Is it illegal if both parties don't sign a multiple listing agreement?
The parties would not have a legal contract. A multiple listing agreement is a contract. In order for a contract affecting real property to be enforceable, all the owners must sign it. If only one owner signs, the other party (the real estate agent) has no agreement with the other owner and the property cannot be listed, marketed, shown or sold.
