Legal Question in Civil Rights Law in Pennsylvania

Is there a grace period after signing a promissory note that you can cancel?

Asked on 11/02/13, 4:17 am

1 Answer from Attorneys

Read the note. Does it contain any kind of cancellation? Any truth in lending type disclosures? What kind of promissory note is this? With a private party? Or a business that regularly lends money?

If this was just a promissory note between two acquaintances/friends, then there is no cancellation period. If this was a business which lends money, there should be a 3-day cancellation period.

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Answered on 11/04/13, 8:52 pm

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