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Uniform Commercial Code (UCC) - Article 3: Federal legislation governing negotiable instruments, including promissory notes. Establishes fundamental requirements for negotiability and enforceability of the note.

State-Specific Laws: Individual state requirements for promissory notes, including state usury laws setting maximum legal interest rates and state-specific statute of limitations for debt collection.

Truth in Lending Act (TILA): Federal law requiring disclosure of credit terms, applicable when the promissory note is used for consumer credit purposes.

Statute of Frauds: Legal requirement that certain contracts, including promises to pay debt, must be in writing to be enforceable.

Required Elements - Party Identification: Legal requirement to clearly identify all parties involved in the promissory note (lender and borrower).

Required Elements - Promise to Pay: Explicit statement of the borrower's promise to repay the loan amount.

Required Elements - Definite Amount: Clear specification of the exact amount being borrowed/to be repaid.

Required Elements - Payment Terms: Detailed schedule and terms of repayment, including installment amounts and due dates.

Required Elements - Interest Rate: Specification of any applicable interest rate, ensuring compliance with state usury laws.

Required Elements - Execution Date: Clear statement of the date when the promissory note is executed.

Required Elements - Signatures: Valid signatures of all parties involved to make the document legally binding.