If I do my own promissary note, and get it signed and witnessed by a 'notary' (regarding a loan) is it legally binding and enforceable ?
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Lawyers pls - is a 'Promissary Note' - a legally binding document
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Posted 4 months ago #
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i am a lawyer but this answer is based on 5 mins on google , yes. and "A promissory note need only be signed and does not require an acknowledgement before a notary public to be valid. "
Posted 4 months ago # -
Promissory Notes are, in principle, enforceable. But any competent lawyer would be asking:
- where are you? Notaries are practically unknown in England.
- what are you receiving in exchange?
- is there an intention to provide security?and so on as a minimum.
If it's a loan worth writing a contract for, it's a loan worth paying a lawyer for. This is straightforward stuff to someone who knows what they're doing and you'll pay not much at all.
Posted 4 months ago #
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