Blank promissory note as a security instrument for consumer credit

Blank promissory note as a security instrument for consumer credit

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The paper considers the sense harmoni headband of using the blank promissory note as a means of securing of consumer loan, while also questioning its purpose as means of security.The initial hypothesis is the legal absurdity of the same person being a debtor under the two different legal basis -promissory note and consumer loan.The same person is the guarantor for themselves - by signing the blank note they guarantee the whirlwind direct2 performance of the consumer loan contract.

That arrangement seems tautological having in mind that the same person, through two legal basis but with the same property, guarantees the performance of the underlying contract manifested in a consumer loan.This is the core proof of the absurdity of using the blank promissory note as collateral security.