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wrmach

Guest
What is the name of your state? Maryland

There is a friend who owes me a substantial sum of money. This person has tried to pay me back but has failed. I don't trust this person to give me my money, so I asked if she would sign a paper stating she would pay me back, she said, "yes".

My question is... if I draw up this paper and she signs it, is it legally binding? Also, is there any particular steps I have to take to make it legal? Thank You:)
 


I AM ALWAYS LIABLE

Senior Member
wrmach said:
What is the name of your state? Maryland

There is a friend who owes me a substantial sum of money. This person has tried to pay me back but has failed. I don't trust this person to give me my money, so I asked if she would sign a paper stating she would pay me back, she said, "yes".

My question is... if I draw up this paper and she signs it, is it legally binding? Also, is there any particular steps I have to take to make it legal? Thank You:)

My response:

Yes, it would be legal. Just make sure it's dated for the date of the loan, and not today's date.

Look on the Internet for the format for a Promissory Note.

IAAL
 

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