A predated note falsely suggests the lien began earlier than it did, enabling fraudulent collection from purchasers who bought the property when no real debt existed.
Question 2
Are postdated promissory notes acceptable?
Postdated notes are acceptable because they only weaken the creditor's position — he cannot collect from property sold between the actual loan date and the note's date — but they don't prejudice purchasers or third parties.
Question 3
Can a promissory note be written without the lender being present?
A note may be drafted without the lender if the witnesses first perform a kinyan with the borrower, committing them to the obligation and ensuring they testify truthfully.
Question 4
What should happen when a promissory note becomes worn and is beginning to fade?
The court can compose a new validation document confirming the original note's details, allowing the creditor to enforce the debt even when the original document is deteriorating.
Question 5
May a lender ask the court to split one 100-zuz note into two 50-zuz notes?
Splitting a note is prohibited because the lender could use both new notes to collect double the actual debt. The original note may not be converted into multiple smaller instruments.