How do I write an agreement to pay that is binding?

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How do I write an agreement to pay that is binding?

My neighbor started his truck using a remote starter. When he did so his truck crashed into my apartment his insurance company has agreed to pay for the damage to the building but not my property. he has admitted he is at fault and has agreed to pay for my property. How do I write a legally binding agreement that says so?

Asked on May 10, 2012 under Accident Law, Ohio

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Ideally, you should go to an attorney to draft the agreement for you. However, if you want to do it yourself, you do don't need to get fancy; just make sure that you include:

1) The names and identifying information of the parties;

2) The amount he is paying, and what it was for (e.g. "the personal property of ...")

3) That in exchange for the payment above, you are giving up any claims against him for damage to your personal property (e.g. for the thing he is paying for--but make sure you don't give up any other claims)

4) When he has to pay the money by, and in what format if you want to specify one (e.g. by money order)

5) That if he breaches the agreement (e.g. not paying), you can sue him in the courts in your county to enforce the agreement; and that if you have to sue him, he will also pay court costs and reasonable legal fees. (You can give up the costs and legal fees if that's a deal breaker for him--it would just be good to have.)

And have places for you both to sign and date.


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