§2.13 Promissory Note

The value of a promissory note is its "market value," which means the price or value of the note as established or shown by sales in the course of ordinary business. [Marriage of Tammen (1976) 63 CA3d 927, 930-931.]

A note that is set below the prevailing interest rate and does not provide for acceleration on sale or encumbrance is not worth its face value for division purposes. [Marriage of Hopkins (1977) 74 CA3d 591, 598.]