State Guides
3 articles in this category
How to Write a Promissory Note for a Family Loan in Texas
Family loans in Texas work the same way they do everywhere else: someone needs money, someone who loves them has it, and the two of them figure out an arrangement that keeps the relationship intact while getting the borrower what they need. What makes Texas worth paying attention to specifically is the state's usury law, its four-year statute of limitations on written contracts, and a few practical realities that affect how a promissory note should be structured for a loan made between Texas family members...
Is a Handwritten Promissory Note Legal in California?
Somewhere between the formal legal document and a casual IOU sits the handwritten promissory note. Maybe you did not have access to a printer, maybe the loan happened quickly, or maybe you just grabbed a piece of paper and wrote out the terms. Now you are wondering whether what you wrote actually holds up under California law...
Is a Promissory Note Legally Binding in California?
If you are planning to lend or borrow money in California and you want to put the agreement in writing, you are probably wondering whether a promissory note will actually hold up. The short answer is yes, a promissory note is legally binding in California, provided it meets certain requirements. Understanding what those requirements are and what can make a note unenforceable is worth knowing before any money changes hands....