Legal Question in Business Law in Georgia

Promissory note-new york

Question:case law. What case law compells the writer of a promissory note to provide verification and declaration of the collateral backing the note. What legal action maybe taken to obtain that information when the writer of the note refuses to provide such information?


Asked on 3/20/06, 11:52 am

1 Answer from Attorneys
Charles W. Field Charles W. Field, Attorney at Law

Re: Promissory note-new york

There is no law, case or statutory, that requires that the signer of a promissory note to even provide collateral, much less describe it. However, the lender can certainly require that before agreeing to the loan.

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Answered on 3/21/06, 3:19 pm


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