Legal Question in Credit and Debt Law in Illinois

Promissory Notes

Does a Promissory Note require both parties signature to be legal? Can only one party sign it without a notary or witness and it still be considered a legal document? What if the party that did not sign the Promissory Note is now deceased? What are the requirements to make certain that a Promissory Note is legally binding upon borth parties? Can a person's Estate try to collect on a Promissory Note which the deceased did not sign?


Asked on 5/24/04, 5:13 pm

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

Re: Promissory Notes

Only the person who owes the money needs to sign it. There is no requirement that the note be witnessed or notarized.

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Answered on 5/24/04, 5:35 pm


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