Wednesday 5 May 2010

promissory note
companion document
deed of trust

trust deed is the security instrument that pledges the collateral
promise to repay the sum of money being borrowed

considered a security instrument.

not a promise to pay
it is an unconditional promise
as such signed by the maker or the borrower
it is a two party instrument

holder in due course

forgery
material alteration.

promissory note in full
due on sale
credit worthiness
transfer of loan
right to recall loan

encumbrance clause

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