Legal Question in Business Law in District of Columbia
Unsecure Promissory Note
Hello- I execute an unsecured promissory note in the state of DC. I cannot seem to find the note, I seem to have misplaced it during my move. The borrower most probably will go in default and I am concerned about what options do I have? Also, what is the statue of limitation on being able to bring a suit in civil cases of this nature. That is, if I were to find it at later time or I decide to wait and bring suit at a later time. Thanks!
1 Answer from Attorneys
Re: Unsecure Promissory Note
If you cannot find the promissory note, you might want to ask the borrower to send you a copy (of his or her copy); otherwise if you have to later go into court to enforce the matter, you'll be faced with having to prove the existence of an oral contract between you and the defendant which may not be easy if he or she denies it all.
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