Photo Credit: Jewish Press

Saif 7, Mechaber: The lender lent money to the borrower based on a promissory note and stipulated the maturity date. The lender then lost the promissory note. The lender, or a third party who found the note, sued the debtor before the maturity date. The borrower claimed he repaid the debt and took back the promissory note from the lender and then lost it. In this situation, the lender or the third party holding the note cannot benefit from the legal presumption that a person does not prepay a debt.

NER EYAL: The legal presumption that a debtor does not prepay a loan is weakened by the loss of the promissory note and therefore does not apply.

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Raphael Grunfeld received semicha in Yoreh Yoreh from Mesivtha Tifereth Jerusalem of America and in Yadin Yadin from Rav Dovid Feinstein. A partner at the Wall Street law firm of Carter Ledyard & Milburn LLP, Rabbi Grunfeld is the author of “Ner Eyal: A Guide to Seder Nashim, Nezikin, Kodashim, Taharot and Zerayim” and “Ner Eyal: A Guide to the Laws of Shabbat and Festivals in Seder Moed.” Questions for the author can be sent to rafegrunfeld@gmail.com.