Legal Question in Civil Litigation in Kentucky

is a promsary note legal i

I sold some equipment to a company and they signed a promsary note to pay me one half monies down ,which they did, but now i can not get them to pay the rest of the money that the own.they are going on 3 months late with thier payments. I the conract it was stated they if 2 payments were missed then i could take back the equipment. they both signed to this agreement. what do i have to do to make them abide by their agreement.can i just go and pick up the equipment as they are making money using this equipment.can you tell me what to do in oder to either get my money or get the equipment back.


Asked on 12/29/05, 5:09 pm

1 Answer from Attorneys
Suzanne Van Wert Van Wert Brown

Re: is a promsary note legal i

If you are in the business of selling machinery to companies, you have an action under what is known as the Uniform Commercial Code. If, however, you are not a merchant, but an individual who happened to sell this machinery to a company, then you can probably proceed under contract law to either (a) recover the outstanding amounts owed you, plus interest, court costs and attorneys fees, or (b) recover the equipment itself.

I would strongly recommend that you take your contract to an attorney who can then advise you as to the proper course of action.

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Answered on 12/29/05, 5:34 pm


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