Uniform Commercial Code (UCC): Primary governing framework for commercial transactions, particularly Article 3 (Negotiable Instruments) and Article 9 (Secured Transactions) if the note is secured

State-Specific Laws: Individual state variations of the UCC, state-specific commercial transaction requirements, and state usury laws governing maximum interest rates

Federal Laws: Including Truth in Lending Act, Federal Reserve regulations, and relevant Dodd-Frank Act provisions that may apply to the transaction

Statute of Limitations: State-specific time limits that determine the period within which legal action can be taken to enforce the promissory note

Basic Contract Law Requirements: Fundamental elements including consideration, capacity to contract, and clear terms and conditions that must be present for a valid contract

Securities Laws: Federal and state securities regulations that may apply if the note could be classified as a security

Principal Amount Requirements: Clear specification of the borrowed amount and any calculation methods

Interest Rate Provisions: Specific terms regarding interest calculation, rate, and compliance with usury laws

Payment Terms: Detailed schedule and methods of payment, including installment specifications if applicable

Default Provisions: Specific conditions constituting default and consequences thereof

Acceleration Clauses: Conditions under which the entire balance becomes immediately due and payable

Governing Law and Venue: Specification of applicable jurisdiction and venue for dispute resolution