Some of the most common questions that our clients ask our New York promissory notes, is “What can I do when I have a promissory note and the debtor is not paying”? New York allows the holder of a promissory note to get a judgment in an expedited manner, which can be enforced against the debtor.
Enforcing Promissory Notes
Our New York commercial litigation lawyers have extensive experience in enforcing promissory notes. In other words, a promissory note is a promise to pay money. If you have loaned a person or company money, or you sold a business with a payout and promissory note and the debtor defaulted, our commercial litigation attorneys can help. Promissory notes are often given when one person or a company loans money to another, which includes when there is an extension of credit, such as when a business is sold, with a payout over time.
Our lawyers frequently prosecute promissory note cases on contingency, so there is no up front cost to you. Rather than putting up large retainer fees, after you have already been stiffed by an unscrupulous debtor, let our commercial litigation lawyers, prosecute your promissory note, and collect what is due to you on contingency. By handling promissory note cases, on contingency, our law firm shares the risk with you, because if there is no recovery, you don’t pay any legal fees. So if you want to get what you are owed, without having to pay outrageous hourly fees, call our commercial litigation lawyers.
What Is A Promissory Note
A promissory note is a signed paper, which acknowledges a debt from one person to another. While use of a standard from of a promissory note is preferred, Courts have found that even less formal writings can qualify as a promissory note, if it is signed and unambiguously acknowledges a debt. Typically to be a promissory note, the note must acknowledge the debt, state the amount of the debt, the interest rate, the date of the debt and must be signed by a person against whom the note is sought to be enforced.
New York Law Is Favorable To The Bearer Of A Promissory Note
Anyone who has been in business is probably aware that the litigation process can be expensive, cumbersome and frustrating. When it comes to enforcing a promissory note, New York has a streamlined process, called a summary proceeding. Instead of filing a summons and complaint and then having to go through years of discovery and then waiting for a trial date, a person who has a bearer of a promissory note can file a summons and a motion for judgment based upon the promissory note and an affidavit of non-payment. If the papers are properly prepared, the judgment will usually be granted and you can avoid a long drawn out litigation.
Trust Our Commercial Litigation Attorneys To Get You The Result You Want
With offices in Midtown Manhattan (NYC) and Westchester, our commercial litigation attorneys handle cases all over New York City, including Manhattan, the Bronx, Queens, Brooklyn, Staten Island, Long Island, Westchester and Rockland.
Can The Debtor Draw Out A Lawsuit With Contractual Defenses
In a promissory note case, the defenses are extremely limited. Debtors often try to avoid their legal responsibility by claiming that the holder of the promissory note, breached some part of the underlying contract. Fortunately for the promissory note holders, our New York commercial litigation lawyers know that once the promissory note is duly signed and executed, contractual defenses cannot be used as a defense to a promissory note, since the promissory note is to be read from the four corners of the document. Our New York commercial litigation lawyers aggressively prosecute these cases to judgment and then aggressively work to collect the judgment.
Meet Our New York Commercial Litigation Lawyers
If you have a commercial litigation matter in New York City, Westchester, Rockland or Long Island, trust our commercial litigation lawyers to get you the best result possible. With a combined fifty years of experience, your business interests are in good hands, when you hire our firm. With offices in Westchester and Manhattan, our commercial litigation attorneys handle business cases all over the New York City metropolitan area.
Michael Joseph
With over twenty years of experience, Michael Joseph, is a veteran of the New York Courts and has handled commercial litigation cases in the New York Supreme Court (Manhattan), the Bronx Supreme Court, the Queens Supreme Court, the Kings Supreme Court (Brooklyn) and the Westchester Supreme Court among others.
John Tait
John is an extremely experienced trial attorney and has tried cases all over the country. John is a fierce advocate for his clients and takes a special interest in representing small business clients.
Clifford Nelson
Cliff is a highly experienced commercial litigation lawyers, who has handled commercial litigation cases all over New York State. Cliff is dedicated to fighting for his clients and representing small businesses and investors in commercial litigation disputes.
Our New York City Office
18 West 33rd Street
Suite 400
New York, NY 10001
From our Midtown Manhattan office, our commercial litigation lawyers handle business dispute cases all over New York City, including Manhattan, the Bronx, Brooklyn, and Queens. Our Midtown Manhattan office is located within walking distance of Grand Central Station and Penn Station and is accessible to the 4,5,6 subway lines. Our office is a short subway ride from the New York County Supreme Court in downtown Manhattan and the Bronx Supreme Court, as well as the Kings Supreme Court in Brooklyn.
Call Our Manhattan Commercial Litigation Lawyers
Phone (212) 858-0503
Email: Michael@newyorktriallawyers.org
Our Westchester Office
203 East Post Road
White Plains, NY 10601
Our Downtown White Plains office is walking distance from the Westchester Supreme Court and the United States District Court, in White Plains. From our Westchester office, our commercial litigation lawyers handle business and commercial dispute cases for clients from White Plains, Yonkers, Tarrytown, Elmsford, Rye, Scarsdale, Bronxville, Ossining, Port Chester, Mamaroneck, Pound Ridge, Pelham as well as clients from Rockland County.
Call Our Westchester Commercial Business Litigation Lawyers
Phone (914) 574-8330
Email: Michael@newyorktriallawyers.org
