back to promissory notes...
here is an interesting in-depth explanation as to what transpires when one goes to the bank for a "loan"
Attachment 1558
i do not agree with the "court approach" toward the end as it invokes a jurisdiction other than common law
however, the
bank mechanics explained is spot on in my opinion and it nearly parrots the oath-sworn testimony of the man (banker rep); Lawrence V. Morgan [Morgan... hmmm] in the Credit River case (i read the actual transcript testimony once but i can't find it anywhere now if anyone has a source to that transcript i would be much appreciative to receive the info)
which goes back to what i wrote earlier; the only amount
rightfully due to the bank at a "closing" are the "closing costs"; to prepare and submit the paperwork for the transaction to go through
the bank does not risk a penny of its own assets when a "loan" process is done
no lawful consideration, no valid contract
no voice, no claim