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

UPDATED: May 26, 2011

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UPDATED: May 26, 2011Fact Checked

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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


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

Answered 11 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.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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