A promissory note must be signed by the borrower. The document is not valid if it is a forgery as with any signed document.
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The note is no longer valid because it is a personal promissory note.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.
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.
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.
wording for promissory note with collateral
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.
She signed a promissory note as a commitment to repay the loan on time.
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.
A promissory note is a fancy legal name for a legally phrased I.O.U.
The amount written on the face of a promissory note is called face value or principal. The date on which the promissory note is written is called the issue date.
A promissory note is a written promise to repay a loan or debt under certain terms. The party who makes the promise is the promisor (also called the maker or issuer). The person to whom the promise was made is the promisee. A promissory note is generally an unsecured obligation. (However, it can be used in combination with a mortgage to secure real estate.) If it is not paid the promisee can sue in court as long as the note is valid and within the statute of limitations for collection. An attorney can draft the note, forms can be purchased or the parties can draft their own agreement. However, only a valid promissory will stand up in court if the promisor fails to pay.
No, the amount of the promissory note is the face vale not maturity value. Maturity value is the value of the money on the promissory note after a period of time.