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Would you still have to pay back a loan if the other person died that signed the promissory note with you?
Sure...even the one that died has to pay back the loan! Thats what a persons estate does...it keeps him alve for business purposes while it settles his affairs. Death is no excuse to upholding an obligation to pay....and what should happen otherwise? The goods go to someone else?
What else can I help you with?
If a promissory note is signed by a person under the influence of drugs is the note valid?
That is a question for the courts to decide. If you signed a note and someone else holds the note, you have the burden to prove you were 1) under the influence, and 2) that the other party knowingly took advantage of your compromised state.
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.
What happens when a promissory note was signed by two people and one died?
If you co-signed a promissory note and the other co-signer died the creditor will expect you to pay the debt. You can try to file a claim against the estate of the dedecent for half of the amount owed. However, if unsuccessful you will be responsible to repay the full amount due.
Can one person sign off on a joint held promissory note?
Yes. The co-holder of a promissory can assign their rights under the note to the other co-holder by a written, notarized instrument.
You co-signed they are coming after you for the debt What can you do?
You cosigned that you would pay the debt if the other person is late or defaults. That means you have to pay the debt if the other person is late or defaults.
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.
Can family loans be a creditor on an estate?
If the decedent signed a promissory note or there is some other proof of the debt then the answer is yes. The family member could file a claim for the balance due.
If you signed a contract and mailed it back to the original person who also signed it is the contract valid?
any signed contract is valid, when you mailed it back, did you register it? this is to make sure that the other person received it.
Where does a person stand if there house has been signed over to them in court but the land registration hasnt been signed over?
i am just looking to know if the other person dies before the other person who signed the house over do they stand a chance of getting it back. there is a will stating that he shouldnt will this affect the will
Is a promissory note legally binding?
There is no legal requirement that a promissory note be witnessed in order to be legally enforceable. In most cases, a written agreement is usually a written confirmation of a verbal agreement. Even without a witness to the promissory there, there many ways to prove the validity of the note such as handwriting analysis and evidence of the payment of the borrowed money such as a cancelled check.
A sentence with the word negotiation?
Negotiate means to discuss and deal with problems. Example : "When conflicts occur, other countries will often try to negotiate peace."
What are the Repercussions of person who tries to have quitclaim deed signed by giving false information to the other person?
The other person will have the right of rescission and will be able to back out of the deal at will.
