It could be considered 'extra insurance' pertaining to the validity of the note, but it isn't necessary. As long as the terms of the agreement are stated accurately and clearly and the note is signed by the borrower, it is legal.
Referring to downloadable legal forms available on the internet and guaranteed to be valid in PA; no witness signature is asked for nor is a space provided for one. Interestingly enough, neither does there appear to be a requirement, or space for a Notary Public's signature.
No....a promissory note is not valid without a consideration.
The note is no longer valid because it is a personal promissory note. If you want to honor it, that is your decision.
A promissory note must be signed by the borrower. The document is not valid if it is a forgery as with any signed document.
A personal promissory note ceases to be valid after the person has died. The law differs from state to state so it is best to check with the probate court or an estate attorney for details.
Even though you file bankruptcy, you still have to honor the promissory note. If you are ordered to make installment payments then you will have to pay the promissory note in installments.
No, The driving privilidge in Washington State has to be valid in order to obtain A Drivers license in any state.
If you signed a promissory note and the person decided not to sell you the car, you do not have tobpaybthe down payment. The person has already voided the promissory note by not selling to you.
A notary witness is a person that has gotten a license from their state to witness or watch when a person signs a document. The notary swears he saw the document signed by signing his/her own name to the document and/or stamping the document with a seal that he has.
All vehicles in the state of Washington require registration, including motorcycles. In Washington, all vehicles also require insurance and the operator to have a valid motorcycle license.
Your state laws will determine whether your promissory note is still valid, but you would have a much stronger case if it were notarized. With the borrower being dead, you will have to go after his estate. Since you loaned him money that he was unable to pay back while alive, I will guess that he did not leave much of an estate to pursue.
If the record is valid it cannot be expunged, it is a permanent part of the person's criminal history.