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Holding position for rejection of promissory notes
Can anyone please provide a definition of acceptance of a promissory note, BOE etc sent via registered/express post where the other party is deemed to have had it in their possession for more than 72 hours. Does the clock start ticking from when they received (and signed for) the documents, and do you count weekends, public holidays? e.g. if the promissory note was signed for and collected by the loan company at their GPO Box last Thursday morning at 5 am, then assuming the individuals named in the Notice of Payment would have received it by midday the same day, when would the 72 hours be up? The lawyer for the loan company replied at 5:30 pm yesterday which is more than 72 hours.
Also, how would one hold one position after receiving the following response from the lawyer:
1) We acknowledge receipt of your letter …. with instructions on processing that payment pursuant to the Financial Emergencies Act.
2) We note that your correspondence and its inclusions appears to refer to legislation that is not applicable within Australia and that contains legal terminology that is often purported to be a method by which you may be able to cease making loan repayments.
3) We advise that, unfortunately, we are unable to accept this as payment towards your loan accounts.
4) You may consider this letter as our “Notice of Dishonour” as referred to in your correspondence. … We would accept cash payment by electronic funds transfer only. {Not specified in contract]
As I am not sure when the 72 hours of acceptance is up, I have drafted a Notice of Conditional Payment Offer & Notice & Demand for Further & Better Particulars to send to the lawyer which I have uploaded here. Is there a better way of responding to the lawyer, or is there anything that could be added to this Notice to improve it? I have asked the lawyer setup questions and asked to provide evidence to support his unsubstantiated claims.
Also, for private lenders, are they still bound by the banking industry code of conduct or is there another code they are bound by?
I forgot to add, the lawyer said that they are returning the original material to me by express post.
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5 Replies
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PM me and I’ll share a letter with you that I sent to a lawyer and he went away.
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Thanks M-J. My email is prof8901@protonmail.com.
How do you PM on here? I have not seen anywhere where you can.
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This reply was modified 1 year, 7 months ago by rtw711.
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Click on my name
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This reply was modified 1 year, 7 months ago by
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Would you be able to forward me this letter too please Morag-Janet? I may need soon as I am now sending payment again for my alleged debt by way of PN.
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Here’s a couple of ideas from other members.
