Legal Question in Business Law in Florida

Promissory Note

I received a personal loan (promissory note) from a bank for 25,000 to purchase tanning beds. The beds where purchased with a personal check written from me to the seller of the beds. I was not present at the time of purchase so I gave the check to another individual to make the purchase. The individual had the seller sign a contract stating the the beds were sold to ''SWG Interprises Inc''. There is nothing that shows that I'm a member of this Corporation. The individual installed the beds in his store and is now operating a business. The individual has verbally told me that he would not assume the loan nor sign anything but he'll make the payments on time. Since, he has faulted several times and I have had to make the payments to protect my credit. I'm now making payments on beds that are in someone elses business. Do I have any legal rights to get the beds. The only thing that I have is the actual copy of the loan and the check to the seller.

Thank you very much, Darrell


Asked on 9/03/03, 12:48 pm

2 Answers from Attorneys
Randall Gilbert Gilbert & Caddy P.A.

Re: Promissory Note

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney�s individualized advice for you. By reading the �Response� to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

RESPONSE:

The facts are somewhat uncelar. For instance, why did you continue making payments for tanning beds you never received? What is the name of your company? Did you sign any guarntee agreements? Who is the person that did accept the tanning beds? What is their relatinohsip to you? Did you demand to have the beds returned? Generally, Florida law provides that any agreement to pay the debt for another must be in writing. If you or your company did not agree in writing to pay for the other person's debt then the claim may be unenforceable against you and your company. In short, you need to consult an attorney and explain the facts in more complete detail. Should you need further assistance you may contact me at (305) 769-3000.

Sincerely,

Randall Gilbert

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Answered on 9/03/03, 1:11 pm
David Slater David P. Slater, Esq.

Re: Promissory Note

Your facts are unclear, however, if you were swindled you certainly may seek a remedy.

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Answered on 9/03/03, 3:00 pm


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