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Promissory Note

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D

Daltdev

Junior Member
I'm located in Florida and have a question regarding a promissory note. What are my legal recourses if someone defaults on their promissory note. We sold our business to someone and they signed a note and now they've gone under. What now??

Thanks
 


S

seniorjudge

Senior Member
Daltdev said:
I'm located in Florida and have a question regarding a promissory note. What are my legal recourses if someone defaults on their promissory note. We sold our business to someone and they signed a note and now they've gone under. What now??

Thanks
Click to expand...
You can sue whoever defaulted on the note. Of course, if they have no assets, they are judgment proof (meaning you will not get anything).
 
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