Legal Question in Investment Law in New York
Legal Document
I seemed to have misplaced my original document dealing with a loan I made to two individuals. Now one of them has have defaulted on the loan and i will need to take legal action against that person. What to do if i do not find the original document? Please keep in mind that the original document was drawn up by a lawyer and that I also had a witness sign it and that i have a copy of the original. Will this suffice or do i not stand a chance?
2 Answers from Attorneys
Re: Legal Document
You do not need an original promisdspry note to sue on the loan.
Re: Legal Document
If the copy that you have is a photocopy of the fully executed original, then you should be fine. The old "best evidence rule" that required that the original be introduced into evidence has been modified and a photocopy is just as good as the original for evidentiary purposes.
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