Legal Question in Business Law in Florida
Does a secured promissary note protect me from otrher creditors
I have a retail store in which i lease space to others.A robbery occured and I am being sued for their losses. A bu siness associate loaned me money previous to this robbery. I signed a promissary note putting up all my assets,[inventory, furniture, equipment] as security for the note. Does this protect my assets from others?
Asked on 11/15/06, 11:47 am
1 Answer from Attorneys
David Slater
David P. Slater, Esq.
Re: Does a secured promissary note protect me from otrher creditors
If the security agreement was filed with the County clerk it will.
Answered on 11/15/06, 11:54 am
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