Are witnesses required for a loan documented by a promissory note?
Question
Shalom,
Someone wants to borrow money from his friend, and the latter wants a written promissory note. Is it necessary to have witnesses sign, or is a written document alone sufficient?
Answer
Shalom u’vracha,
If the question is out of concern for possible disputes, then in the case of a note written in the borrower’s own handwriting, where he later claims, “I have repaid,” the ruling follows what appears to the judge’s eyes. Therefore, he can write that he grants the lender full credibility (ne’emanut) regarding any claims the lender may make.
Source
In Siman 69, se’if 2, the Shulchan Aruch and the Rema disagree regarding a promissory note written and signed in the debtor’s own handwriting — whether he is believed to claim, “I have repaid.” The Rema concludes: “And in this matter there is no judgment other than what his eyes see,” meaning the judge rules according to his own assessment. By contrast, with a note signed by witnesses, if it has been validated (according to the laws of kiyum shtarot in Siman 41), the debtor is not believed to claim that he has already repaid.
