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?

    … to be discharged during bankruptcy. In fact, federally funded student loans are almost always not dischargeable. Why cannot discharge my student loans in bankruptcy? A student borrowing federal funds is required to sign a promissory note prior to receiving his or her student loans. The promissory note, which often requires a cosigner, is an agreement to pay… 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

    … Current Morgan Stanley Recruitment Deal Posted on Tuesday, December 27, 2016 at 10:45 AM Morgan Stanley has marketed a recruitment deal to financial advisors which consists of an upfront cash payment between 100% and 175% with a 9 year term in place. The hurdles in order to meet back-end production goals under the deal are: YEAR 1: HURDLE…

    Eccleston Law Offices- 21 readers -
  • Jerry Allen Schutte– Private Securities transactions

    … allegedly participated in a $150,000 private securities transaction by entering into an equity participation agreement and a corresponding promissory note with a customer of Northwestern Mutual Investment Services, LLC without first providing proper prior written notice to the firm, according to the a recent FINRA Letter of Acceptance, Waiver…

    Alan Rosca/ Investment Fraud Lawyers- 23 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

    … mortgage notes in the case of StateStreetBank and Trust Co., Trustee for Holders of Bear Stearns Mortgage Securities, Inc. Mortgage Pass-Through Certificates, Series 1993-12 v. Harley Lord, et al., 851 So.2d 790 (Fla. 4th DCA 2003). The Court held that StateStreet could not maintain a cause of action to enforce a missing promissory…

    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 -
  • Good Grief Charlie Brown - yes the Bankruptcy Law Connection

    … a house full of other work to do. In this model, the parties would either share the blanket or divide the blanket between them. That would allow for both parties to stay warm. Some may prefer to share the blanket and others may prefer to divide the blanket and each use their own part. About Jordan Bublick Miami Bankruptcy Attorney Jordan E. Bublick is a 7 and 13 bankruptcy lawyer in Miami, Florida. Offices: Miami, Kendall, Aventura (305) 891-4055 …

    Jordan Bublick/ Miami Bankruptcy Law Blog- 11 readers -
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