Q: Our broker told us it isn't necessary to have the agreement of sale acknowledged. But since this is our first house, we don't want to run into any trouble.

Don't you think it should be acknowledged, or isn't there some law to that effect?

A: No, it isn't necessary to have the agreement of sale acknowledged. However, for the protection of the buyer, it is a good precaution for the agreement to be acknowledged by the seller. This is especially true if some time will elapse before the closing of the deal.

Acknowledgement of the sale allows for the agreement to be recoreded and constitutes a cloud on the title until the agreement is merged into a deed or stricken from the record by some action of the buyer or by the court's order.

Q: What is the difference between a judgement note and a promissory note?

A: In a judgement note, if not paid at maturity, the holder can confess judgement against the maker of the note. In a promissory note, if not paid at maturity, the holder must sue the maker to obtain a judgement.

Bernard Meltzer's address: Suite 900, 112 S. 16th St., Philadelphia 19102.