by landlubber » Fri May 23, 2014 8:19 pm
by pooky2483 » Sat Oct 18, 2014 12:33 am
ceylon wrote:it was deleted by youtube along with my account
by wapanther » Mon Jan 12, 2015 2:30 pm
by ladykirsty » Mon Jan 19, 2015 2:02 pm
by jmc » Fri Feb 27, 2015 3:13 pm
by littlemissedinburgh » Tue Apr 07, 2015 4:31 pm
by 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.
Lord Denning M.R. in Fielding & Platt Ltd v Selim Najjar  1 W.L.R. 357 at 361;  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.”
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.
= (had not been PAID in £, as per the PROMISE.)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
On 4 October 1965, the first promissory note, for £23,500, fell due. It was not paid. The defendant apologised for not paying it.
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.
AgreedNow, 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. Peace
by 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
by kittywhiskers » Mon Dec 28, 2015 2:09 am
by Pinupgirl » Mon Dec 28, 2015 7:23 pm