Valid contract?

[John101]

What is the name of your state (only U.S. law)? CA

Hello everyone. I let someone borrow $3000,but did not indicate the breakdown of the cumulative sum of $3000 within contract,so is contract still valid? In case relevant, the sum of $3000 was a random amount my ex-girlfriend and I came up with, considering I made the mortgage payments and paid most bills for a year straight. Yes, the informal loans due to her lack of financial help way, way exceeds $3000, but that's probably irrelevant. Do I need to present receipts when I go to small claims, or is the contract alone good enough? I'd appreciate any help. Thanks everyone!

 

[Zigner]

What is the name of your state (only U.S. law)? CA

Hello everyone. I let someone borrow $3000,but did not indicate the breakdown of the cumulative sum of $3000 within contract,so is contract still valid? In case relevant, the sum of $3000 was a random amount my ex-girlfriend and I came up with, considering I made the mortgage payments and paid most bills for a year straight. Yes, the informal loans due to her lack of financial help way, way exceeds $3000, but that's probably irrelevant. Do I need to present receipts when I go to small claims, or is the contract alone good enough? I'd appreciate any help. Thanks everyone!

If she agreed to repay you $3,000.00 in your writing, that should be all that is required.
But, I'm curious...in what time frame was she required to repay this?

 

[John101]

$3000 Loan

I appreciate your feedback. To elaborate on terms, she was to pay $500 per month for the next 6 months, in which she did make the first payment, thus I'd be suing for $2500. I also indicated within the contract that her final payment of $500 would be due on 6/1/11, if there was no previous default. Again, thank you for your time. Here is the exact text within the contract, minus the names, of course....
"I" am to receive $500 per month from "the she" for
money borrowed in 2010. If "she" defaults in payments to "me",
there will be a 10% interest rate penalty applied to remaining balance
until balance brought to current. "She" will also pay any and all
costs/fees associated with the process of collecting the unpaid
balance, including attorney's costs/fees, collection agency
costs/fees, and/or court costs/fees, if ultimately applicable.
Payments of $500 may be mailed (not dropped off) to xxx on the 1st of every month for 6 months,
beginning on 1/1/2011, thus bringing total to $3000.00 upon final
payment, in which final payment is to be made on or before 6/1/2011.