Is this type of promissory note legally binding?

[ABN]

I signed a promissory note that said "borrower" agrees to pay "amount" for "reason" and then we both signed it...

Now I'm being taken to court for refusal to pay.

 

[Zigner]

I signed a promissory note that said "borrower" agrees to pay "amount" for "reason" and then we both signed it...

Now I'm being taken to court for refusal to pay.

1: US law only.
2: If you "borrowed" an "amount" for a "reason", and you signed it a note stating that, why wouldn't it be binding?
3: What was the "reason" for the loan?

 

[ABN]

Shouldn't there have to be witnesses? There was no date on there telling me I had to repay it by, and the amount went up drastically for little things like going out to eat, which weren't on the contract.

 

[ABN]

The original loan was for one thing, not all this other crap

 

[Zigner]

What US state?

 

[ABN]

What US state?

State of michigan

 

[Zigner]

You signed it and you acknowledge it. No witness is needed.

As for the additional items, they would need to be proved separately from the note.

 

[FlyingRon]

It depends what the "reason" actually is rather than what was stated.

What did you get for agreeing to pay money in the future? Did he loan you money? Give you something? In order for this to be a contract, there has to be more than you just promissing to pay something in the future.

 

[Zigner]

It depends what the "reason" actually is rather than what was stated.

What did you get for agreeing to pay money in the future? Did he loan you money? Give you something? In order for this to be a contract, there has to be more than you just promissing to pay something in the future.

The OP says that he's the "borrower". I do agree that the "reason" may make a difference (but I doubt it).

 

[LdiJ]

Shouldn't there have to be witnesses? There was no date on there telling me I had to repay it by, and the amount went up drastically for little things like going out to eat, which weren't on the contract.

If you want a good answer to your question, you have to do a better job of providing information.

 

[FlyingRon]

What the note claims he is called is meaningless unless he actually received the money borrowed (or something of value). CONSIDERATION and MUTALITLY are as important as offer an acceptance.

 

[HRZ]

OP?..you are short of details..or perhaps note is short of details....but for starters when is repayment to begin and in what amounts.....or is it a demand note ?

 

[Zigner]

What the note claims he is called is meaningless unless he actually received the money borrowed (or something of value). CONSIDERATION and MUTALITLY are as important as offer an acceptance.

I don't disagree - but if you take the thread as a whole, it's obvious that he is, in fact, a borrower.

 

[FlyingRon]

I don't disagree - but if you take the thread as a whole, it's obvious that he is, in fact, a borrower.

He never said that in any of his three postings. The closest he has come is "For one thing but not this other crap" which is hardly precise.

However, since he can't be bothered to answer the questions put to him here that would elicit a possible defense, he's likely going to lose in court anyhow.

 

[Zigner]

He never said that in any of his three postings. The closest he has come is "For one thing but not this other crap" which is hardly precise.

You failed to include the pertinent part of that post that makes it clear there was an "original loan":

The original loan was for one thing, not all this other crap

However, since he can't be bothered to answer the questions put to him here that would elicit a possible defense, he's likely going to lose in court anyhow.

I agree that he's likely to lose in court.