Draft

siren, not to pick, but you waaay behind on your understanding and overstanding of "money" and promises to pay or perform. money is gold or silver coin, or warehouse receipts thereof. federal reserve notes are intended to act as a promissary note, but they not even rise to that level. they are worthless fiat money, pretending to be promissary notes of the united states. in the bankruptcy, all instruments are promises to pay later, and circulate as "money" to the unknowing, but to the people in the know, they are just legal tender.

Originally Posted by Siren

Isn't a promissory note something you have to back up later with actual "money," anyways? In my experience, checks are just promissory notes, but when they get presented at your banking institution, the bank covers it if you have the funds in your account. So I don't understand how these negotiable instruments actually work to discharge debts, etc... ???

Also, you say we have to do our research, but how and where do we do this? Are there any books we could acquire on the subject? Thanks again!!!

[charlesa6]

Originally Posted by Siren

Isn't a promissory note something you have to back up later with actual "money," anyways? In my experience, checks are just promissory notes, but when they get presented at your banking institution, the bank covers it if you have the funds in your account. So I don't understand how these negotiable instruments actually work to discharge debts, etc... ???

Also, you say we have to do our research, but how and where do we do this? Are there any books we could acquire on the subject? Thanks again!!!

You need a lot of research to do. You can start out with download sections, and forum sections under Banks, collectors, and CRA, and UCC etc., for more understanding in promissory note arena.