Legal Question in Credit and Debt Law in Texas
Promissary note
I loaned a guy money to get a business started, and had him sign a promissary note stating that he would pay the money back. His wife and I signed it as witnesses. His business did not make it. Will the promissary note hold up in court if I sue him for the money?
Asked on 2/03/07, 11:48 am
2 Answers from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: Promissary note
Maybe. Depends upon what's in the note itself. Is there a date certain that the money was to be repaid? If not, what would trigger repayment? Do you have to make a written demand for repayment first?
Answered on 2/04/07, 2:03 pm
James Grissom
Law Office of James P. Grissom
Re: Promissary note
Depends upon the contents of the note.
Answered on 2/03/07, 2:02 pm
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