What is a promissory note?

[@denisegallo4409]

LMAO. your entrance, ..........just captivated me most definitely lollll Also, thank you for being so transparent. This was all, so, natural!

[@FinelyRevealed]

Thanks Denise!

[@Mercymaseko]

Thanks plenty for the wonderful explanation im studying privatlaw in swedish so i wanted to understand clearly in english so good job!

[@FinelyRevealed]

Hi @Mercy So happy to help! I so enjoyed visiting Sweden- must go back!

[@ronaldayala8539]

If that it's so why the bank sells your promissory note once you sign it they cannot provide it back to you when you ask for it for your promissory note

[@FinelyRevealed]

Hi @Ronald - in a lawsuit you can have the court order the original to be produced. You should always keep copies of notes you sign until you have received the original marked paid. You can take out a conventional loan with a bank and not allow them to sell it- you have to ask for it. We are doing some videos on secondary mortgage market and selling loans.

[@haggai3.477]

*MORE IMPORTANTLY THAN SIGNING A NEGOTIABLE INSTRUMENT, IS HOW THE INSTRUMENT IS INDORSED* *UNSECURED INDORSMENTS* Turn *CREDITORS* into *DEBTORS*

[@bankerlies6121]

A prommisory note by the laws of the United states is the same value as the dollar.

[@antoino2012]

If I write a promissory note to bank, they give me promissory notes back ( federal notes) when if ever is real money ever transfered

[@FinelyRevealed]

HI @Uncle Good question- many transactions are electronic and it is accepted as currency transfer. It is an astute observation to note that the entire transaction from borrowing to lending to repayment can occur without physical transfer of cash.

[@eriksiordia8217]

She can't back nothing up if the money in our pocket says "This note, is legal tender for all DEBTS, PUBLIC and PRIVATE" LOL

[@jaysant6958]

What if I lend someone money with a promissory note and use their car as collateral and they sell it but they don't pay me back? Do I chase the new owners for the car or what happens there? Also what if they default on the payment and when I go to get the car, they purposely trashed it and made dents and cracked windows but not totaled?

[@FinelyRevealed]

Hi @Anttjuan - A vehicle cannot be cleanly sold when it has a lien on its title to a creditor unless that creditor executes a release and that only occurs when the creditor has been paid. The lien stays on the title and therefore on the car and can be enforced regardless of who claims they 'own' it. I thought we had a video on repossession - I will look and give you the link if we do and if not will make one.

[@FinelyRevealed]

Here's the link - see if this helps kzbin.info/www/bejne/oqHLh4Scht51kNE

[@jaysant6958]

FinelyRevealed Thank you. I shook go check it out 👍

[@se7ensnakes]

The way you describe it the promissory note is a unilateral contract where the signer makes all the promises and there is no description of the "VALUE RECEIVED".

[@mustafanoor9395]

Suit for specific performance already installed . Now during hearing of Specific performance suit , now i wants to sue for 'Pronote ' suit. What is your view regarding this.

[@realallenpope4065]

What are we supposed to pay with exactly? More promissory notes?

[@JanColdwater]

A promissory note is also a negotiable instrument in banking. Due to the fraudulent ways our monetary system creates money, debt being one of them, a PN can be used AS PAYMENT in of itself if written a certain way.

[@FinelyRevealed]

Thanks for the comment Jan! Yes, a promissory note that is written 'pay to the order of' is thereby a negotiable instrument and may be transferred by endorsement or by separate allonge.

[@FinelyRevealed]

Hi Jan and thanks for the comment! Yes- if a promissory note is written 'I promise to pay to the order of" then it is negotiable and may be transferred by endorsement or allonge.

[@cobrastrike6043]

@@FinelyRevealed I think what Jan was saying is that a PN can just be written up and has to be accepted by a creditor as a way to cancel the original debt, without anything actually backing the new PN, or any further payments. In other words, fraud. I think there are way too many people getting the impression that they can just write up their own PN and use it to pay off mortgages, vehicle, and CC debts when the notes are actually worthless.

[@jamesmabry59]

@@cobrastrike6043 You are correct .The lwoman gives totally inaccurate information.

[@cobrastrike6043]

@@jamesmabry59 Of all of the monetary instruments, the promissory notes are the ones associated with the highest amount of fraud.

[@VRCM_Skywarn_XUSA]

It's a written agreement of terms ...for exchange of services. Basically... Reserve Notes are printed IOUs. Legal its written. (Logik) a note. Lawful it's oral...And still binding. If I have to do all this paperchasing. Then it's a no deal...from the get go. Paperwork is B.S.

[@dougbillman2333]

All Americans have limitless credit, so says these two public laws 73-1 and 73-10 go look 👀 I did…….

[@ulisemelendez]

I want to used a promissory note to buy a property. What I want to know is is the note made out to my account or the seller of the property account at closing of the note.

[@FinelyRevealed]

The person who is paying the money is the one who signs the note. The person or entity that is receiving the money is the one to whom the note is made payable.

[@leeennise.a3338]

that spin was uncomfortable. lol. Great info though!!

[@FinelyRevealed]

Hi @Lee Should we retire the spin in the new studio?

[@leeennise.a3338]

@@FinelyRevealed lol. you can tell it was done on cue. maybe start recording, then spin naturally. cut off the beginning in post

[@shahidiqbal5299]

My attorney wrote the promissory note against my direction? Can I challenge it on court?

[@FinelyRevealed]

Anyone can file any case they think has validity. Sorry, can't comment on any specific case. Try talking to the person who drafted it and take all your notes and messages where you gave instructions on what you wanted etc.

[@dough1968GMC]

Is this Micelle?

[@dougbillman2333]

Limitless credit, all Americans have it……

[@jamienichols9271]

So can an IPN be used to pay for a mortgage ?

[@FinelyRevealed]

Hi @jamie you would need to contact your mortgage lender to learn what forms of payment they take.

[@jamienichols9271]

@@FinelyRevealed will request all forms of payment they accept other then check, M.O. and automated payments as they do accept these. thank you

[@williamlartey7817]

Please what are the methods of payment is it under negotiate instrument or the promissory note and bill of exchange.?

[@DerekWiltshire]

Every bank note ever issued is a promissory note and technically it is about owing gold/silver on demand or someone’s sweat equity.

[@moustafaaladham7161]

I believe that the court would reimburse the legal cost to the lender even it is not in the promissory note .what you think?

[@FinelyRevealed]

Hi @Moustafa For recovery of legal costs that needs to either be provided by state law or included in the documents. So if either of those applies then yes attorney fees and costs would be also awarded to the lender in most cases.

[@dougbillman2333]

Our signatures give value, their documents , because we the people are the creditors not the debtors……. We’ve been brainwashed our whole lives, to believe we are the debtors…..

[@haggai3.477]

*WELL RESEARCHED* ✅ *WELL SAID* ✅ *WELL DONE* ✅

[@amrelsayed452]

It was very helpful , many thanks

[@freddyperez8781]

You in California

[@FinelyRevealed]

Hi @Freddy - no, not at the moment. I am in Kansas City.

[@freddyperez8781]

Ok i sold my home at 250$ thousand buyer got a loan for 230$ we did a promisory note for the 20$ .....buyer defaulted in the 3rd month stop paying .....can i foreclose on buyer? What can i do ?

[@ronaldayala8539]

Now that's a great information you just provided me right there

[@atakesholayemi4891]

it was helpful

[@FinelyRevealed]

Happy you thought so Atake. Thanks

[@minimariyah5209]

Thanks you really helped me

[@FinelyRevealed]

Great Mini!

[@kothaakash7625]

Hi mam, your explanation was good .I still have a doubt that if we lost the note ,is there any chance to recover that.

[@FinelyRevealed]

Hi @Kotha In the US we have rules on lost notes. Will do a video on that.

[@73gmiller]

Is that a pot plant next to you in your office

[@FinelyRevealed]

Hi @Greg It's a Pachira Aquatica - a money tree. My producer named him George.

[@73gmiller]

@@FinelyRevealed Lol. Thanks I kept looking at it thinking this may be the funniest KZbin joke I've ever seen. Loved your video BTW. I signed a promissory note today for my pop application and was wondering if they were telling me I was approved. Keeping my fingers crossed. Thanks

[@ElectrickSoundz]

So family love between everybody and Earth is just a promissory note okay we got it no scanning scammers yeah we don't want to hurt each other I get that neither did I and any way shape or form

[@ronaldayala8539]

You cannot answer this question that I just made for you or you just don't have time to look at your blogs

[@lucky-hd1yv]

Hi do you specialize in legal credit repair?

[@FinelyRevealed]

Hi @luckyG - no but have some experience with it. Will put this on the list for new videos- stay tuned!

[@choudhrysiddiq7305]

Hi thanks for the video, currently I am in transition for the note. How do I make it legitimate which make a legal proof if down the road I default or other party default. Do I need attorney or just sign on agreed terms and notarized it ?

[@FinelyRevealed]

Hi Sajid - thanks for the question! You can do an online search for a basic promissory note. There are rules for these depending on where you live so if it is a large amount of money and/or you are taking collateral to secure the debt then you should hire an attorney so that you can receive maximum protection. If there is not any collateral and the terms are fairly simple then write them out using a template and the only person who signs is the one who is going to make the payments. Good luck!

[@samanthasims7123]

Thank u

[@arianalevronka8391]

thank you! so informative

[@die_schadenfreude]

Omg the beginning made me dead inside

[@sb2261]

Right 🤣 love it

[@dojaboytan4559]

back it up, Michelle

[@arjunsingh964]

Given 2 lakhs and want to sue in court.

[@helenebrahimzadeh1099]

thank you very much ! =)

[@FinelyRevealed]

Happy to help Helen!

[@dougbillman2333]

I can’t make up laws folks…….

[@chimpionboy]

Very interesting

[@lehighvalleydave4597]

something just doesn't pass the smell test...jmo

[@eriksiordia8217]

Even the government is in det to their own creation of money lol

[@bankerlies6121]

No ,the government has no debt.Its all monopoly money to them.No limit to the creation,all done by your signature.

[@charlesdominico6580]

Excellent thank you so much

[@rancettaali]

Merci EARth

[@bruce1989able]

I love you you love me ,sound like Barney the purple horrible dinosaur hehe.

[@ElectrickSoundz]

H. Mmmmk