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State laws vary. The promissory note would be subject to the laws of the state where it was executed.
State laws vary. The promissory note would be subject to the laws of the state where it was executed.
State laws vary. The promissory note would be subject to the laws of the state where it was executed.
State laws vary. The promissory note would be subject to the laws of the state where it was executed.
What else can I help you with?
Would a promissory note be null and void if nothing was ever lent or borrowed?
A promissory note is an unconditional promise to pay a fixed amount at a fixed time accruing a fixed interest thereafter.Promissory notes differ from IOUs in that they contain a specific promise to pay, rather than simply acknowledging that a debt exists. In common speech, other terms, such as "loan," "loan agreement," and "loan contract" may be used interchangeably with "promissory note" but these terms do not have the same legal meaning.So the answer depends on whther this is a true promissory note or an instrument that was created to memorialize a transaction that wasn't completed.ClarificationThe answer is that if there is a fully executed promissory note then it can be enforced in court. A fully executed promissory note is absolute evidence that the borrower owes the lender. A defense that the borrower never received the money would be difficult to prove. If the funds were not transferred to the borrower there should not be a fully executed promissory note.First, the promissory note should only be signed by the borrower at the same time the funds are handed over. Second, if one was executed and the funds were not paid over to the borrower then the promissory note should not be signed by the borrower and if signed, it should be destroyed since the loan was not completed.
Is a promissory note the same as a written contract?
A promissory note is a kind of written contract. The statutues and conditions under which it can be enforced are determined by the laws of the state in which it is drafted.
Wording for promissory note?
wording for promissory note with collateral
What is the minimum allowable interest rate on a promissory note between two private parties in the state of Florida?
Minimum interest upon promissory note in wisconsin Loo
Is a promissory note valid with no consideration?
No....a promissory note is not valid without a consideration.
Would a promissory note be null and void if nothing was ever lent or borrowed?
A promissory note is an unconditional promise to pay a fixed amount at a fixed time accruing a fixed interest thereafter.Promissory notes differ from IOUs in that they contain a specific promise to pay, rather than simply acknowledging that a debt exists. In common speech, other terms, such as "loan," "loan agreement," and "loan contract" may be used interchangeably with "promissory note" but these terms do not have the same legal meaning.So the answer depends on whther this is a true promissory note or an instrument that was created to memorialize a transaction that wasn't completed.ClarificationThe answer is that if there is a fully executed promissory note then it can be enforced in court. A fully executed promissory note is absolute evidence that the borrower owes the lender. A defense that the borrower never received the money would be difficult to prove. If the funds were not transferred to the borrower there should not be a fully executed promissory note.First, the promissory note should only be signed by the borrower at the same time the funds are handed over. Second, if one was executed and the funds were not paid over to the borrower then the promissory note should not be signed by the borrower and if signed, it should be destroyed since the loan was not completed.
Is an IOU the same as a promissory note?
Yes, and if properly executed and witnessed it could be considered a legally binding contract.
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.
How long State of Hawaii promissory note is good for?
Question is unclear: If it is a note issued BY THE STATE - it is good forever.
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 the same as a written contract?
A promissory note is a kind of written contract. The statutues and conditions under which it can be enforced are determined by the laws of the state in which it is drafted.
Wording for promissory note?
wording for promissory note with collateral
What is the minimum allowable interest rate on a promissory note between two private parties in the state of Florida?
Minimum interest upon promissory note in wisconsin Loo
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.
How do you write legally binding promissory note?
The easiest way to write a legally binding promissory note yourself is to use a pre-formated promissory note form from a credible legal forms database. All you have to do is fill in the form with the appropriate information. Each state has certain requirements, therefore each form is specifically made for each state.
How do you issue a promissory note?
A promissory note is a fancy legal name for a legally phrased I.O.U.
