Promissory Note from DOW - Posted by gregoryvg

Posted by gregoryvg on August 14, 2003 at 12:24:22:

Thanks. That makes perfect sense now. I think I got my Note Maker mixed up with Note Holder.

Promissory Note from DOW - Posted by gregoryvg

Posted by gregoryvg on August 14, 2003 at 10:51:20:

Hi Everyone,

Today while I was typing the Promissory Note found in the back of DOW into Word, I noticed that the note seems to have been cut off on the end.

It ends like: . . .


This Note may be paid off at any time without penalty, but cannot be assumed by another party without written consent of Note Holders. Not Maker(s) acknowledge a copy of this note.

Signed,

____________________________________________. Note Maker

SS#______DOB


. . . with only the note maker signing. Shouldn’t the buyer be signing as well?

What else do I need to add to the end of it?

Re: Promissory Note from DOW - Posted by Dave-WA

Posted by Dave-WA on August 14, 2003 at 11:31:20:

There should be a spot for two note makers to sign and that is the end of the form.

The note maker is the buyer and the note holder is the seller.

. . . think . . . - Posted by Steve-WA

Posted by Steve-WA on August 14, 2003 at 11:28:00:

The buyer IS the note maker. The note is a promise, the buyer is making the promise to pay. The seller (you) are “holding them to their promise”, so that makes the seller (you) the note holder.

Their sig is the only one necessary, as they are the only one agreeing to do anything.

I am not a lawyer.