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  • Lawyers pls – is a 'Promissary Note' – a legally binding document
  • gusamc
    Free Member

    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 ?

    crankboy
    Free Member

    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. ”

    konabunny
    Free Member

    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.

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