IOU

The promissory note is an obligation on the debtor's affirmative ( declaratory ) or causative ( constitutive ) certificate.

Legal Issues

The promissory note is the acknowledgment of a certain debt and regulated in § 781 BGB. It is a document which is to prove the existence of an obligation. The ownership of the promissory note is the respective creditors ( § 952 para 1 BGB). In the process of personally signed by the debtor promissory note provides conclusive proof of the corresponding statement of the debtor ( § 416 ZPO). Extinguish the debtor's liability, he can against receipt the return of the promissory note demand ( § 371 sentence 1 BGB). An indication of guilt reason, was therefore issued for any reason the promissory note is not required. In the promissory note, the creditor is not legally obliged to prove the loan or other circumstances and to prove; Rather, it is for the debtor to plead and prove that the area occupied by the promissory note obligation did not arise.

Practical use

Most commonly, the promissory note is found in the promissory notes. Here, the loan agreement the loan underlying fulfilled (more precisely: Loan Agreement ) the conditions of a debt certificate.