Kötlevél

Kötlevél is a historical legal instrument used in Hungary to document a binding obligation. It is a written instrument in which a debtor acknowledges a debt or commits to satisfy a specified obligation to a creditor. The document typically stated the amount or value due, the due date or terms of repayment, and sometimes the interest, collateral, or consequences of non-payment. It functioned as a speedy and flexible form of debt evidence, providing a basis for legal action to enforce the obligation.

In practice, a kötlevél could secure loans, guarantee performance under a contract, or serve as a simple acknowledgment of debt. It was usually signed by the debtor and often witnessed, and in some cases sealed or augmented by corroborating signatures. When a debtor defaulted, the creditor could pursue civil remedies based on the written acknowledgment, with the document functioning as proof of the obligation and its terms. Its evidentiary value was a key reason for its use in commercial and civil transactions.

Kötlevél differs from other instruments such as bills of exchange (váltó) or formal mortgages, being generally simpler and more flexible, though less standardized. Over time, as modern contract law and standardized security instruments developed, the use of kötlevél declined and today the term is largely historical or encountered in scholarly discussions of Hungarian legal history.

See also: promissory note, bill of exchange, mortgage, collateral.