this post was submitted on 28 Jan 2024
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Actually Tort law in every state makes any debt null and void if payment in legal tender is refused. A promise note, whatever the fuck that is, does not constitute legal tender. That's why your dollar bills say they're legal tender for all debts public and private. And also why people have gotten away with paying large debts in pennies just to be an asshole.
As they say, In God we trust, all others pay cash.
Local proof of this:
A local artist received a 15000 LTL (now unused currency, now 4350 EUR) fine for calling in a fake bomb threat at his friend's wedding. He proceeded to pay it in cent coins, which weighed 700 kilos.
Regarding promissory notes, they are definitely a thing, also known as a note payable, two people agree that x will pay y with a certain amount and interest and it is as good as money, but you can't just randomly write one up.
Wikipedia link
But is his promise note actually a promissory note? Or is it some sovcit bullshit to avoid banks?
It's only a promissory note if the bank agrees and signs it too.
I suppose he will try to make a fake promissory note and try to give it to the bank.