Legal Question in Criminal Law in New York
promisary note
I lent a friend 6000.00 for his business he has defaulted on the payments and I would like to take him to court for breach of contract, or seize his business or any assets he may have to satisfy this debt, any advice ? - also I rcvd a promisary note that this debt would be paid off in may 2005 - thank you
2 Answers from Attorneys
Re: promisary note
You basically need to initiate a lawsuit, through which if your facts are substantiated, you should easily be able to obtain a judgment. The judgment could then be enforced by siezing any assets in the debtor's name, i.e. bank accounts, financial accounts and liens on real property. This area of law is our specialty, however, we would need some more information before making a complete and proper determination. You are welcome to contact us for a free consultation.
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Re: promisary note
No criminal law appears to have been violated for a breach of a promissory note due in May, 2005. Without a formal written pledge of assets, there is no collateral. The Sheriff or Constable may seize assets after a Court judgment is rendered.
The process for executing on Justice Court judgments is described here:
http://www.leg.state.nv.us/NRS/NRS-070.html
Small claims court procedures are desribed here:
http://www.clarkcountylegal.com/small.htm
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