This article United States: Assignee Bank May Seek Recovery Based On Lost Promissory Note discusses an Alabama Supreme Court decision that held that the assignee of a lost promissory note was entitled to rely on a lost note affidavit to enforce its claim against the maker of the note. Although the court applied principles of common law, courts in other jurisdictions or countries might rule differently.
Certain articles within this post were linked and referenced with the permission of Mondaq.com, through our exciting content collaboration with them. To access Mondaq’s large database of articles written by top law firm lawyers from around the world, you must leave our site and create a free account on theirs.