Promissory Note

A promissory note is a legal instrument (more particularly, a financial instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms. If the promissory note is unconditional and readily salable, it is called a negotiable instrument.Referred to as a note payable in accounting (as distinguished from accounts payable), or commonly as just a "note", it is internationally defined by the Convention providing a uniform law for bills of exchange and promissory notes, although regional variations exist.
Posts about Promissory Note
  • What Happens to My Student Loans During Bankruptcy?

    … Student debt is crippling borrowers as well as the United States economy as a whole. Recently published statistics show that Americans owe more than $1 trillion dollars in student debt. As a result, many Americans with student debt are delaying or foregoing purchasing homes, moving, and even marriage. The increased attendance at colleges… 11 readers -
  • Original Notes and Loan Papers: What Does a Lender Need to Foreclose?

    … may be misplaced in the process. Because these original documents prove ownership of the mortgage, and thus the right to initiate the foreclosure process, the rules of evidence in New York State Supreme Court may require production of the original promissory note in order to proceed with foreclosure litigation. Without said note, a borrower…

    Ronald D. Weiss, PC- 12 readers -
  • Current Morgan Stanley Recruitment Deal

    …: 20% on production and 15% on assets · YEAR 4: HURDLE – 125% OF ASSETS AND PRODUCTION Payout bonus: 25% of production and 15% on assets · YEAR 5: HURDLE – 150% OF ASSETS AND PRODUCTION Payout bonus: 25% of production and 15% on assets All proposed deals are negotiable and reflected in numerous agreements such as promissory note and employment…

    Eccleston Law Offices- 21 readers -
  • Standing and the Possession of Original Loan Documents in a New York Foreclosure

    … and note, as all interaction is with the mortgage servicer. A mortgage servicer is the party contracted by the owner, under a Pooling and Servicing Agreement[3] (PSA), to manage the loan, including, send statements, collect and apply payments, run the escrow analysis, make tax and insurance payments, and engage in loss mitigation if the borrower falls behind…

    Ronald D. Weiss, PC- 31 readers -
  • When Lawyers Cross State Lines – Legal Malpractice

    … for construction of an office building. After the building was completed, Cantone sold certificates of participation in the $5 million promissory note. They claim that Gardner failed to register the certificates as securities with the state and improperly used the word “guaranteed” in documents which could confuse investors. After the state…

    Legal Malpractice - Chris Trebatoski- 37 readers -
  • Enforcement of Lost Mortgage Notes

    …Miami bankruptcy lawyer Jordan E. Bublick has over 25 years of experience in filing chapter 13 and chapter 7 bankruptcy case and mortgage modifications. Office: 1221 Brickell Ave., 9th Fl., Miami, Florida. Tel.: (305) 891-4055 - The Florida Fourth District Court of Appeals decided an issue regarding the enforcement of lost…

    Miami Bankruptcy Law Blog- 36 readers -
  • Beware of Lenders Who Offer “Quick Cash” by Sending Checks in the Mail

    … is an unsecured loan because no collateral was taken to secure loan. Assuming the consumer begins to make payments to the lender after cashing the check, the lender may contact them to thank them for their business and offer them more money. The catch is that at this time, the consumer must come into the office to sign a promissory note and the lender may…

    Mary Pool/ Bond and Botes- 28 readers -
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