Legal Question in Credit and Debt Law in Utah

Promissory Notes

What is my recourse if I have signed a promissory note, put up collateral, and received only 50% of the promissed loan?


Asked on 7/26/07, 12:09 pm

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Promissory Notes

Sue for specific performance against the lender - requiring the lender to provide the entire loan amount, or to cancel the agreement and release the collateral. Read the contract, that has most of your rights in it.

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Answered on 7/26/07, 1:40 pm


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