How do I know if a promissory note that I drafted is legal?

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How do I know if a promissory note that I drafted is legal?

About 1 1/2 years ago I created a promissory agreement to present to a friend who I had lent money too. The purpose of the agreement was to lay out a way for her to repay what she owed. She signed the agreement (wasn’t notarized). She has yet to pay anything. As per the terms of the agreement, she has now reached the point where she has breached the agreement. I believe I covered all details very well when creating the agreement but I’m not sure if I can sue her for breach or not?

Asked on May 26, 2011 under Bankruptcy Law, Montana

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

You could sue for breach of contract.  Your damages would be the amount owed plus interest and court costs.  Court costs would include the court filing fee and process server fee.


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