Truth in Lending Act (TILA): Federal law requiring disclosure of credit terms and standardizing the manner in which costs associated with borrowing are calculated and disclosed

UCC Article 3: Uniform Commercial Code provisions governing negotiable instruments, including promissory notes, providing rules for creation, transfer, and enforcement

Fair Debt Collection Practices Act: Federal law that limits the behavior and actions of debt collectors who are attempting to collect debts on behalf of another person or entity

State Usury Laws: State-specific laws that set maximum legal interest rates and regulate lending practices within the state jurisdiction

State Promissory Note Requirements: State-specific legal requirements for the form, content, and execution of promissory notes

Statute of Limitations: State laws determining the time period within which legal action must be taken to enforce the promissory note

Statute of Frauds: Legal doctrine requiring certain contracts to be in writing and signed to be enforceable

Contract Elements: Essential elements required for valid contract formation including offer, acceptance, consideration, capacity, and legal purpose

Internal Revenue Code: Federal tax laws governing the treatment of debt instruments, interest income, and partial payments

Consumer Protection Statutes: State and federal laws designed to protect consumers in financial transactions, including requirements for disclosures and fair practices