What can void a promissory note?

As long as a promissory note is valid, the borrower is responsible for repaying the loan as agreed. However, there are certain provisions that can cause the promissory note to void and prevent it. It is important as a lender to follow the necessary policies and procedures to ensure that the promissory note is, in fact, legally binding.


A promissory note is usually voided after the lender has repaid the loan in accordance with the terms of the loan.


The lender has the legal right to void the promissory note at any time it wishes.


A judge is the only legal individual, other than the lender and the borrower, who has the authority to void a promissory note.

Reasons for voiding a promissory note

A judge usually voids a promissory note for a number of reasons, including loss of the original promissory note, fraud, proper signatures not provided, and other types of reasons.


A borrower should be advised that he or she needs legal documentation from the lender or judge that has voided the promissory note, to avoid future collections on the loan.