How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask INFOLAWYER Your Own Question
INFOLAWYER
INFOLAWYER, Attorney
Category: Business Law
Satisfied Customers: 54292
Experience:  LICENSED BUSINESS LAWYER
11313492
Type Your Business Law Question Here...
INFOLAWYER is online now
A new question is answered every 9 seconds

can one sue for unpaid interest on a non-recourse note payable

Customer Question

can one sue for unpaid interest on a non-recourse note payable when remedy of breach is to take back collateral
Submitted: 6 years ago.
Category: Business Law
Expert:  INFOLAWYER replied 6 years ago.
Hello and thank you for your question. If you need more details after you read my answer, click reply (not relist) & I will gladly respond.

if it is a non recourse loan, the answer is no. The lender can only recover the collateral.
Customer: replied 6 years ago.
am I charged if I ask you a follow up
Expert:  INFOLAWYER replied 6 years ago.
You can do so. You have not paid for the first answer, so I would appreciate it if you accept the answer though.

Related Business Law Questions