AE Blog - Are Promisory Notes Another Empty Promise?
At first glance, one would think that the promissory note has greatly increased the chance of getting paid. However, this promissory note has only forced your client to agree in writing to the outstanding amount owed under the original agreement. While this makes it more difficult for your client to later dispute the outstanding amount, the more important question in today’s economy is – How has this promissory note secured payment of the outstanding debt?
Get the details from Robert H. Stellwagen, Esq, Collins Collins Muir + Stewart LLP at https://www.hallandcompany.com/php_uploads/resources/library/PROMISSORY%20NOTES%20_CCMS.pdf