Promissory Note page with Download, now on main site

Any questions regarding Promissory Notes

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Re: Promissory Note page with Download, now on main site

Postby landlubber » Fri May 23, 2014 8:19 pm

Okay, Frankstar. Firstly, if you are settling a debt with a corporation you can offer them a Promissory Note since if they have an income of more than 2 million pounds, they can accept your PN as Lord Denning says in his case law, a PN is to be treated as cash. Now, when it comes down to the small self employed business man, your mechanic, it's doubtfull he has such a large income, so you wouldn't expect him to accept the note. Your promissory note is precisely the same as the bank of england's PNs, except that the BoE has the backing of the government and the belief of the folks of this country that theirs has value. There is no intrinsic value in BoE notes and they have no value at all. If you doubt this, take a wedge on their notes to the BoE and try to get them to settle their promise. They simply won't be able to. I hope that this helps you further to comprehend what PNs are about. :D Peace
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Re: Promissory Note page with Download, now on main site

Postby pooky2483 » Sat Oct 18, 2014 12:33 am

ceylon wrote:it was deleted by youtube along with my account


I wondered why I coudlnt find your account on Youtube (after recently watching a video with you telling people your Youtube acc name). I guess you've not bothered creating another one!

Also, I am having problems with the Promisory Note. I've downloaded it and it looks like theres something missing at the bottom (text-wise).
Promisory Note
In the download, theres some text missond and it looks like theres more than in the download. That may be because of different versions. Also, theres no place for the notary to put their details. I'm guessing that this is because things may have changed and all they do is stamp and sign on or near the stamp, i.e. v1, v2, v3 etc..

I love the site BTW. Way back in the late 80's to early 90's I didnt know we have the power we have, I got myself into just over £10k debt and I couldnt afford much and it got to the DCA stage and I just sent them letters telling them all I could afford was £2 a month and if they didnt like it, take me to court. It worked!!!

I'm now in some more debt DOH! and I'm in the DCA stage and have sent out 2 stage 1 letters and one of them has just got the stage 2 letter, the other one is gonna get theirs delivered on Monday :D

One is a HSBC loan and bank acc for just over £6k, the bank acc was defaulted for £50 odd. Ive paid loads now (including miss-sold PPI refund to clear some of the loan) which should have cleared the bank acc debt but I've still got a default on my file for it!!!

I'm also looking at sending Cap1 a promisory note to clear the debt, nearly £2k. If it works, I'll just max the card again then send them another PM LOL.
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Re: Promissory Note page with Download, now on main site

Postby wapanther » Mon Jan 12, 2015 2:30 pm

Please excuse my ignorance,,, But what happens if they come for the money you are promising them?
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Re: Promissory Note page with Download, now on main site

Postby ladykirsty » Mon Jan 19, 2015 2:02 pm

Hi there, I have been successful with promissory not and a4v in the past but have lost my prom note template. Is there anywhere that does a simple FREE, downloadable one? It seems to get the one from here you have to upgrade at a cost of £7!!!! Thanks
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Re: Promissory Note page with Download, now on main site

Postby jmc » Fri Feb 27, 2015 3:13 pm

The download of version 2 on the home page seems to be the same as version 1 ?
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Re: Promissory Note page with Download, now on main site

Postby littlemissedinburgh » Tue Apr 07, 2015 4:31 pm

Hi i just wondered if we need to sign the promissory note?
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Re: Promissory Note page with Download, now on main site

Postby Freeman16 » Sat May 02, 2015 8:54 pm

landlubber wrote:Okay, Frankstar. Firstly, if you are settling a debt with a corporation you can offer them a Promissory Note since if they have an income of more than 2 million pounds, they can accept your PN as Lord Denning says in his case law, a PN is to be treated as cash.


Hi landlubber, I'm still trying to get my head around these PN's and hope that you or someone else can set me straight on it.

1) I accept they work, on the basis of the testimonies that they have worked historically. But I can't understand how they work i.e how they are not glorified IOU's which require settlement either in produce, service or coin/notes of the realm etc.

2) Lord Dennings quote seems to be taken entirely out of context i.e

http://swarb.co.uk/fielding-platt-ltd-v ... -jan-1969/

Lord Denning M.R. in Fielding & Platt Ltd v Selim Najjar [1969] 1 W.L.R. 357 at 361; [1969] 2 All E.R. 150 at 152, CA):

“We have repeatedly said in this court that a bill of exchange or a promissory note is to be treated as cash. It is to be honored unless there is “some good reason to the contrary.”


But when taken in context, it appears to have entirely different meaning:

The plaintiff company had contracted to make and export to the defendant an aluminium extrusion press. The defendant re-assured the plaintiff that it would be lawful for him to import the plant, but asked that the plant be described falsely on the invoice as ‘parts for rolling mill’. Payment was made by promissory notes. After the first two promissory notes had not been met, the plaintiff ceased production, and sued on the notes and succeeded summarily.


So Selim Naijar paid 5 promissory notes, each to be settled (in cash of the Realm £) at various stages of production.

But he doesn't pay/settle at the agreed time.
Payment was made by promissory notes. After the first two promissory notes had not been met
= (had not been PAID in £, as per the PROMISE.)
the plaintiff ceased production, and sued on the notes and succeeded summarily


Therefore Mr Naijar was now indebted to Fielding & Platt Ltd, for the materials and work they had carried out on the strength of the PROMISE TO PAY NOTES, which were now well overdue for settlement.

Bear in mind that Mr Naijar had "deposited shares, of his own, as security for the due payment of the promissory notes." So these notes were secured on those personal shares of Mr Naijar deposited with a third party.

On 4 October 1965, the first promissory note, for £23,500, fell due. It was not paid. The defendant apologised for not paying it.


So negotiations went on etc with more broken promises to pay, until in the end Fielding & Platt Ltd, stopped work on the project.

Now when Lord Denning states
it is quite plain to me that the defendant was liable to pay the first of the promissory notes. We have repeatedly said in this court that a bill of exchange or a promissory note is to be treated as cash. It is to be honoured unless there is some good reason to the contrary. It is suggested that, on the first note, there was a failure of consideration. That suggestion is quite unfounded. The plaintiffs were getting on with their part of the contract.


He is saying that Mr Naijir was claiming an excuse/good reason, not to pay the PN and that excuse was that "there was a failure of consideration", (i.e 'work had been stopped"), but he then goes on to rebut that 'failure of consideration' by saying "That suggestion is quite unfounded. The plaintiffs were getting on with their part of the contract" until it became clear they were not going to be paid as PROMISED.

-------------------------------------------------------------------------------------------------

Now, when it comes down to the small self employed business man, your mechanic, it's doubtfull he has such a large income, so you wouldn't expect him to accept the note.
Agreed


Your promissory note is precisely the same as the bank of england's PNs, except that the BoE has the backing of the government and the belief of the folks of this country that theirs has value.


Precisely, but 'our' PN doesn't have the backing of the Gov nor the belief of the folks of this country. That is the difference.

There is no intrinsic value in BoE notes and they have no value at all. If you doubt this, take a wedge on their notes to the BoE and try to get them to settle their promise. They simply won't be able to. I hope that this helps you further to comprehend what PNs are about. :D Peace


In a way, I agree with your argument here because since the currency is no longer on a Gold Standard, it is no longer pegged to the price of gold. But I can go to the BoE or anywhere else that sells gold and demand an equivalent amount of gold commensurate with the amount of money that I have. I can buy gold, (or anything else) with my fiat currency because it is accepted and TRUSTED by the people. Our PN's are not.

Now as to why 'our PN's' have evidentially been accepted as payment, I can only surmise that there is a trust held in our name, created from the birth certificate (bond), and large corporations can claim the money from that trust, via the clearing bank.
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Re: Promissory Note page with Download, now on main site

Postby Freeman16 » Sat May 02, 2015 9:19 pm

ceylon wrote:Change the angle to 45% across the Bank Giro Credit, and Autograph vertically on the back





Accepted For Value
Excempt From Levy
Exemption I.D. NI Number
Autograph Date


The problem I have with this is, we shouldn't be willy nilly giving out our NI No to people or companies.
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Re: Promissory Note page with Download, now on main site

Postby kittywhiskers » Mon Dec 28, 2015 2:09 am

FOR THOSE WHO USE A BLASTED CHROMEBOOK LAPTOP LIKE MINE YOU WILL HAVE NO JOY WITH UPLOADING THE PN. Chromebooks are very limited in their capabilities. GRRRR
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Re: Promissory Note page with Download, now on main site

Postby Pinupgirl » Mon Dec 28, 2015 7:23 pm

Hello, Ive been trying to download the Promissory Note from your templates but it keeps telling me that the file is corrupt. Is there another link for it or am I missing something?
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