Legal Question in Employment Law in California

Balloon Payments on loans

If an employer gives an employee a loan/advance for X amount of dollars and that employee signs a promissory note, upon termination of employment for the employee(voluntary/involuntary) can the balance remaining on the loan/advance be deducted from their last paycheck?


Asked on 3/06/02, 5:00 pm

1 Answer from Attorneys
Patty Lewis Law Office of Patricia Ann Lewis

Re: Balloon Payments on loans

it depends on the terms of the promissory note . . . you need to read it to see if there is a contingent provision for termination of the employment relationship . . .

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Answered on 3/07/02, 2:01 am


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