Truth in Lending Act (TILA): Federal law that requires lenders to provide standardized disclosures about loan terms and costs to promote informed borrowing decisions
Fair Debt Collection Practices Act (FDCPA): Federal law governing debt collection practices and protecting debtors from abusive collection methods
UCC Article 3 - Negotiable Instruments: Uniform Commercial Code provisions governing negotiable instruments including promissory notes, their creation, transfer, and enforcement
Federal Reserve Regulation Z: Implements TILA and provides specific requirements for consumer credit disclosures
State Usury Laws: State-specific regulations that set maximum legal interest rates and penalties for exceeding these limits
State Promissory Note Requirements: State-specific formal requirements for valid promissory notes, including necessary terms and conditions
Statute of Limitations: State-specific time limits for bringing legal action to collect on a promissory note
State Disclosure Requirements: State-mandated disclosures that must be included in lending documents
Statute of Frauds: Legal requirement that certain contracts, including promissory notes, must be in writing to be enforceable
Contract Elements: Essential elements required for a valid contract: offer, acceptance, consideration, capacity, and legal purpose
Internal Revenue Code: Federal tax provisions affecting the treatment of interest, principal, and potential forgiveness of debt
State Tax Regulations: State-specific tax implications for lending arrangements and debt instruments
Gift Tax Provisions: Tax regulations concerning below-market loans and potential gift tax implications
Consumer Protection Statutes: State and federal laws designed to protect consumers in financial transactions
Securities Regulations: Federal and state laws governing when a promissory note might be considered a security requiring registration
