Legal Question in Credit and Debt Law in California
Patients that come through an emergency department sign a financial agreement to pay for services rendered. I understand promissory notes have certain advantages including being first to collect on bankruptcy. Even though there is no loan, is it legal to change the financial agreement into promissory notes?
Asked on 4/03/11, 2:28 am
1 Answer from Attorneys
An unsecured promissory note gives no advantages that a signed agreement to pay for services does not, unless there is a dispute about the amount billed. In any case, however, you cannot have a promissory note without an agreed amount certain for the debt. It is impossible to create a promissory note for future services.
Answered on 4/04/11, 1:47 pm
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