QUESTION
As long as a lender signs off on a Promissory Note, does that constitute a valid "payoff"?
Asked on Feb 06th, 2020 on Contracts - Georgia
More details to this question:
I had a Promissory Note with my mother who signed it "paid in full" 2 years ago but did not want me to share with my siblings until after her death, which just occurred. In reality, I did not pay it off, however, my mother did not want me to. She just did not want problems with her children while she was alive.
1 ANSWER
Assuming that your mother was competent, not under your undue influence, not defrauded, etc., she had the right to give you any gift or her property she wanted, including a gift in the form of forgiveness of debt.
Answered on Feb 06th, 2020 at 2:45 PM