Legal Question in Legal Ethics in New Jersey

Promissory Note

a)How many years is a promissory note valid in the state of NJ?

b)If the Promisor dies and his wife didn't sign on the promissory note, is she responsible for any of his debt?

Asked on 5/14/06, 3:12 pm

1 Answer from Attorneys

Robert Davies The Davies Law Firm, P.A.

Re: Promissory Note

Assuming that you have given all of the needed information (and no insult, I assure you, it is almost impossible for a person to give ALL of the critical information in a posting like this), then you may want to consider the following ideas.

Usually, a promissory note would be valid for six years; it could be a different time period, depending on a variety of factors. The time period normally starts to run on the later of the signing of the note or on the date of last payment (although this could be extended by other circumstances).

If you would like, give me a call to set up an appointment; I am in northern New Jersey. My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.

Disclaimer: you can not rely on the advice of an attorney given over the internet. The exact facts of your situation, including facts which you have not mentioned in your question, may completely change the result for your situation.

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Answered on 5/15/06, 12:33 pm

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