Is a promissory note a binding document?
Full Question:
Is a promissory note a binding document?
01/05/2007 |
Category: Debts and Cr... ยป Promissory N... |
State: Alabama |
#176
Answer:
If the note is properly supported by consideration, executed (signed) and contains the required language it is generally binding. Consideration can be in the form of money, services or other value. See the legal definition of promissory note for more detailed information.
