What is the purpose of the promissory note in a mortgage loan transaction?

What will be an ideal response?


The promissory note is a personal obligation in writing to repay the sum of money which has been borrowed

Legal Studies & Paralegal

You might also like to view...

CAT is computer aided translation

a. True b. False

Legal Studies & Paralegal

Describe the degrees and certificates that are available to paralegals. Where noted, what types of educational institutions grant these degrees?

?

Legal Studies & Paralegal

?Which is NOT a general rule of distribution under most states' intestate succession statutes?

A. ?If an intestate decedent is survived by a spouse and children who are all born to the surviving spouse and decedent, the spouse receives a lump sum of money and/or a portion of the estate, and the children receive the remainder of the estate equally B. ?If an intestate decedent is survived by a spouse and children, some of whom are not the children of the surviving spouse, the spouse receives a lump sum of money and/or a portion of the estate, and only the children born to both the decedent and the surviving spouse receive the other half of the estate. C. ?If an intestate decedent has no surviving spouse or kindred relatives, the state receives the decedent's property. D. ?If an intestate decedent has no surviving spouse or lineal descendants but is survived by a parent and other collateral relatives, the parent will receive the estate.

Legal Studies & Paralegal

The nonprofit budget- and credit-counseling agencies that are eligible to provide briefings to individual debtors must be approved by the bankruptcy courts.

Answer the following statement true (T) or false (F)

Legal Studies & Paralegal