NEW YORK COMMERCIAL LITIGATION
LAWYERS THAT LITIGATE PROMISSORY NOTE
CASES ON CONTINGENCY
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.
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.
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 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.
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
CALL OUR MANHATTAN COMMERCIAL
Phone (212) 858-0503
OUR WESTCHESTER OFFICE
CALL OUR WESTCHESTER COMMERCIAL BUSINESS LITIGATION LAWYERS
Phone (914) 574-8830