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Linda Štrause on promissory notes, "Dienas Bizness"

Linda Štrause on promissory notes, "Dienas Bizness"

In the article “Electronics could revive promissory notes” published in the 15 April 2013 special section “Legal Services” of the business newspaper “Dienas Bizness”, Linda Štrause, Partner and Head of Baltic Corporate and Commercial Practice Group, expresses her opinion on promissory notes after the recent amendments to the Promissory note Act accepted by Saeima.

Lawyer admits that the new rules on electronic promissory notes will enhance the use of this forgotten historical document, and states that the promissory note is often a cheaper and easier option than a marketable debt instrument, such as, for example, a loan agreement. In addition, in case of a promissory note it is not necessary to prove the origins and commitments which the document is based on, it is already approved by a valid promissory note.

Click here to read the article (available in Latvian).

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