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If you have a promissory note with someone and they die are you still responsible to pay the debt?
No. Without both signatures, the promissory note is not legal. As the other party is deceased, there is no way to collect that signature to make the note valid.
What is presentment of promissory note?
A "Promissory Note" is a legal IOU. 'Presentment' of it, means that you (or someone) is cashing it in, and wants to be paid.
Can someone sue for money if no promissory note it signed?
no
What do you do if you sold a vehicle to someone with a promissory note stating they will make payments and signed the title over if they do pay?
If they signed the promissory note, then it is legal, and binding.
Collect a sample of a Promissory Note and describe its features Also describe its usage and the involvement of the parties concerned?
sample of a Promissory Note and describe its features. Also describe its usage and the involvement of the parties concerned
A personal promissory note was drawn between two individuals in the state of Texas and the lender since died. How long does the executor have to enforce the promissory note. Is it still valid?
The note is no longer valid because it is a personal promissory note. If you want to honor it, that is your decision.
Can an estate collect on a loan that was made to someone before the person passed away?
Yes, as long as there is some written proof of the loan such as a promissory note and the statute of limitations hasn't passed.
Wording for promissory note?
wording for promissory note with collateral
what is a cash flow note?
In the language of the private cash flow business the word "note" is shorthand for promissory note. While it is easy to get tripped up in the various types of notes, this term refers to an official IOU; the right to collect payments based on terms outlined in the promissory note itself. http://ezinearticles.com/?What-is-a-Cash-Flow-Note?&id=1443655 what is cash flow note A cash flow note is a written document where someone promises to pay. The amount, the interest rate and the length of time will be printed on the note. It is a promissory note or a debt. To use them you would be a debt collector.
A personal promissory note was drawn between two individuals in the state of Texas and the lender since died. How long does the executor have to enforce the promissory note?
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.
Is a promissory note valid with no consideration?
No....a promissory note is not valid without a consideration.
How can you use the word promissory in a sentence?
She signed a promissory note as a commitment to repay the loan on time.
