- A new promissory note given by way of renewing the obligation under a prior note. As applied to promissory notes, in commercial and legal parlance, the word "renewal" or "renewed" means more than the substitution of another obligation for the old one. It means to reestablish a particular contract for another period of time. It means to restore to its former conditions an obligation on which the time of payment has been extended. Kedey v Petty, 153 Ind 179, 54 NE 798, 800.
Ballentine's law dictionary. Anderson, W.S.. 1998.
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renewal note — see note Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
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renewal — re·new·al /ri nü əl, nyü / n 1: the act or process of renewing a renewal of the copyright 2: the quality or state of being renewed 3: something renewed 4: something used for renewing; specif: an expenditure that betters existing fixed assets … Law dictionary
note to be renewed until paid in full — A provision in a note for indefinite renewal, but not to be construed as meaning that the maker has as much time as he desires to make payment of the principal sum, he being entitled to one renewal for the period specified in the original note,… … Ballentine's law dictionary
renewal until paid — A provision for the renewal of a note contained in the instrument. The courts appear to be in complete agreement that a renewal until paid or similar provision in a note authorizes, not an indefinite number of renewals thereof, but one renewal.… … Ballentine's law dictionary
renewal of note — extension or renewal of note Takes place when parties agree upon valuable consideration for maturity of debt on day subsequent to that provided in original contract. Elk Horn Bank & Trust Co. v. Spraggins, 182 Ark. 27, 30 S.W.2d 858, 859 … Black's law dictionary
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extension or renewal of note — Takes place when parties agree upon valuable consideration for maturity of debt on day subsequent to that provided in original contract. Elk Horn Bank & Trust Co. v. Spraggins, 182 Ark. 27, 30 S.W.2d 858, 859 … Black's law dictionary