does Promissory Note have any legal affect?



Hi,

I would appreciate some information.

I loan someone certain amount of money and get paid interest on this, i
have a promissory note contracting this and it is notarized. It also
mentioned in case of his death, I can collect my principle back etc
etc.

I am wondering does this note have any legal affect? hyporthetically,
in case of his death, can I use this note to go to court to collect my
principle ?

If not, what kind of document should I make for this loan to protect
myself in case of unexpected thigns.

Thanks

dave

.



Relevant Pages

  • Re: OT - surprised nobody has mentioned
    ... that most of the bank loans have been paid back with interest. ... So why don't you want the real facts published? ... GM paid a taxpayer loan back with mostly taxpayer loaned money. ...
    (rec.outdoors.rv-travel)
  • Re: IHT complications in giving or lending money to a donor
    ... I'd take the view that it was a loan which, if and when paid back, can ... the law makes the presumption that it is a gift unless proved ... reliable friend, so I could be liable for a tax bill of £40,000 which I ...
    (uk.legal)
  • Wording of a loan agreement for the purposes of Divorce Form E Financial disclosure.
    ... does the fact that I have paid off some of the borrowers debts in the ... form of a direct payment to the borrowers creditors have any effect on ... the legal standing of the loan. ... credit card provider and can prove via credit card statements that the ...
    (uk.legal)
  • loan agreement wording
    ... does the fact that I have paid off some of the borrowers debts in the ... form of a direct payment to the borrowers creditors have any effect on ... the legal standing of the loan. ... credit card provider and can prove via credit card statements that the ...
    (uk.finance)
  • Re: Tax Deduction Eligibility when paying with Unsubsidized Stafford Loan
    ... Scenario A ... as a tax deduction assuming the 2007 laws match 2006. ... Graduate school is paid by my Stafford loan entirely in 2007. ...
    (misc.taxes)