Breach Of Promissory Note With Chattel Mortgage
Description
How to fill out Montana Complaint For Breach Of Promissory Note?
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FAQ
Even if you have the original note, it may be void if it was not written correctly. If the person you're trying to collect from didn't sign it and yes, this happens the note is void. It may also become void if it failed some other law, for example, if it was charging an illegally high rate of interest.
Even if a promissory note is lost, the legal obligation to repay the loan remains. The lender has a right to re-establish the note legally as long as it has not sold or transferred the note to another party.
The debt owed on a promissory note either can be paid off, or the noteholder can forgive the debt even if it has not been fully paid. In either case, a release of promissory note needs to be signed by the noteholder.
Even if you have the original note, it may be void if it was not written correctly. If the person you're trying to collect from didn't sign it and yes, this happens the note is void. It may also become void if it failed some other law, for example, if it was charging an illegally high rate of interest.
Not signed by the borrowerIn order for a promissory note to be legally binding, it must include the signature of the borrower. You generally are not required by law to have the signatures witnessed or notarized.