Is an IOU for construction work and no repayment date listed, legally enforceable?

Asked on July 8, 2014 under Business Law, Connecticut


Shawn Jackson / The Jackson Law Firm, P.C.

Answered 6 years ago | Contributor

Well, in most states, an enforceable contract is where the intentions of the parties are reasonably clear...and involve some level of "this for that"...legally called "consideration" or "quid pro quo". So, if the IOu is being offered as a written agreement, one level of burden and proof will be required...whereas if you are using the IOU as evidence of a verbal agreement...a slightly different level of proof and evidence will be required.

Shawn Jackson California Business Development Attorney


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