Analysis of life cases using promissory notes

Analysis of life cases using promissory notes

Promissory notes

Promissory notes are a financial payment tool that everyone occasionally hears about in news dramas, and it is also a unique system in Taiwan. A few days ago, there was a discussion on whether the promissory note system has been abused ( underground banks and fraud groups have abused and implemented the promissory note system for more than 50 years.) We may even use it in certain life scenarios, but unfamiliarity with promissory notes often makes people unclear about the meaning of signing, or after signing a promissory note what effect.

The following is from a few life cases, to take you to understand what a promissory note is, and what we should pay attention to when using it.

Case 1:

A met B by helping B deliver frozen seafood. Later, B invited A to play mahjong. The number of mahjong games became more and more, and the amount of money became larger. When A lost money, he borrowed money from B, accumulating over time, and owed 150,000 yuan, B demanded from A, and A was unable to repay, so B asked A to execute it. Starting from January 10, 2007, in the Republic of China (the same below), the promissory note is 30 days per month and each has a face value of 10,000 yuan. Zhang, and then A paid off 150,000 yuan in succession, but B did not return the 30 promissory notes signed by A.

Case 2:

C and D have known each other for a long time, D sees that C has a weak personality and is easy to bully, so he and several friends ask C to spend the money, C said that he has no money, and D and several friends force C to sign a denomination of 100,000 yuan. 1 ticket before letting Cleave.

Case 3:

F requires E to sign a 50,000 yuan promissory note with no due date as the break-up fee, and after 10 years, F will ask E for money for the promissory note.

Before answering what to do with A, C, and E in the above three cases, we must first understand what is a promissory note? When will the promissory note be used? What should be recorded in a valid promissory note? How do I exercise my rights to get a promissory note? Then we can help A, C and E solve the promissory note problem.

1. What is a promissory note

A promissory note is a kind of instrument in which the invoicer issues a certain amount in his name, and on the specified due date, the invoicer himself unconditionally pays the issued amount to the payee or holder written on the ticket.

2. When will the promissory note be used?

The most common is that the creditor asks the debtor to pay back the money. When the debtor has no money, he will be asked to execute a promissory note (especially when borrowing money from an underground bank). Others, such as buying a house, renting a car, or looking for a job, may be asked to sign. promissory note.

There is also a special case of being forced to sign a promissory note without any money exchange (as in Case 2).

3. What items should be recorded in a valid promissory note (the part circled in red)?

  1. promissory note
  2. Unconditionally responsible for payment (cannot be deleted, if you delete the promissory note, it will be invalid).
  3. A certain amount (and the amount must not be rewritten or altered, otherwise the promissory note will be invalid).
  4. The invoicer must sign. The signature can also be replaced with a seal. If the invoicer does not sign the original name, the bearer must prove who signed the promissory note he took.
  5. Date of the invoice.

In addition, it is suggested that when the public wants to take a promissory note, they can ask the invoicer to fill in the ID card number and household address together, so that it will be easier to confirm the identity of the invoicer when they want to use the promissory note to exercise their rights in the future.

Another example is to write more words on the promissory note, such as only for the guarantee, handover, proof, etc., it will be regarded as not written.

4. How to exercise the right to get the promissory note?

(1) Method:

  1. Hold a cashier’s check and ask the invoicer to pay
  2. If the invoicer does not pay, he can use the promissory note to apply to the court for a promissory order ruling (the court service desk or the website of the Judicial Yuan have sample pleadings for reference), and then take the promissory note ruling to apply to the court for enforcement (the court service desk or There are also examples of written pleadings on the website of the Judicial Yuan.) The property of the invoicer can be obtained.
  3. If the invoicer has no property to enforce, he can apply to the court for the issuance of a certificate of creditor’s rights, and enforce it when the invoicer has property.

PS: The promissory note ruling and the credit certificate is the name of execution, and they are the basis for applying to the court to enforce the property of others.

(2) Note:

1. There is a three-year exercise time limit for the promissory note and the issued creditor’s rights certificate.

The promissory note is counted from the due date (if the due date is not written from the invoice date), it is not used for three years to ask the invoicer for money. , make sure you can get the money.

The time limit for exercising the certificate of credit issued by the court is the same as that of the promissory note, so when it is about to expire for three years, you must remember to apply to the court for the replacement of the certificate of credit, then you can recalculate the three-year time.

2. The promissory note ruling will be enforced within six months.

After applying to the court of issuance for a promissory note ruling, it will have the effect of interrupting the three-year exercise of the promissory note, but it must be applied for the property of the debtor (whether there is or not) within “six months” after the court agrees to the promissory note ruling. If there is no property, the court will issue a certificate of creditor’s rights after finding out). If you do not enforce it within six months, according to the law, it will be deemed that the promissory note has never been exercised, and the three-year limitation period will still be calculated from the due date (if no due date is written, from the invoice date).

5. How should A, C, and E deal with the promissory note issue?

First of all, facing the issue of promissory notes, there are usually three legal ways to deal with them as follows:

Way

1. File a lawsuit to confirm the non-existence of the creditor’s rights on the promissory note

2. Protest (not accepting the promissory note ruling)

3. File a lawsuit against the debtor (if someone takes a promissory note to apply for enforcement)

Reason

  1. If forced to sign a promissory note, the promissory note is forged or altered by others, the money has been paid but the promissory note has not been recovered, etc.
  2. The promissory note does not record the matters that must be recorded by law.
  3. If the promissory note is forged or altered by others, the money has been paid but the promissory note has not been recovered, or it has been more than three years, etc.

When to use

  1. Engagement can start from the occurrence
  2. 10 days after receipt of promissory note ruling
  3. must be brought before the end of the court enforcement proceedings
By aamritri

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