by hellfat  01/02/2016  106 Page Views
0 Comments  Self-managed super funds, superannuation, wealth management
Good Morning,

I have a few questions that require some clarrification in regards to the use of Promissonary Notes in Australia as means of payment in regards to loans with banks.

Is there any High Court Rulings in Australia that advice the use of Promissonary Notes as a form of payment noting these are treated as legal tender in the US to banks.

The US has the Uniform Commercial Code that banks have to adhere to, does Australia run of the UCC or does it have its own system that the banks abide by like a Securities Instruments Law?

Your help in this matter would be greatly appreciated.