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does that mean that only ORIGINAL signature is enforcable ?
Even if an attorney is the intermediary ?
What is my gain if I hire an attorney to handle the promissory note ? Would he act like a notary to secure the transaction ?
Any lawyer can handle that ? Or should it be a business law lawyer ?
ok so the promissory note signed, is like a check or a bond. I must get it with the signature.
It gives me the certitude that the borrower will pay back and minimize the risks.
If you would like to look my current promissory note (created on rockelawyer.com), I can allocate a bonus to this thread. You have to tell me the price of this bonus.
Then I will upload the note on my website.
>>Nothing guarantees repayment of an unsecured loan,
Then what is a secured loan ? Through a notary ?
>>but the note makes it easier to sue if there is a default.
I have to leave US. How can I sue this person if I had to ? Possibly by hiring a lawyer in US, even though I am outside US ?
ok so that I guess that is why the banks never lend to poor, as the borrower can not give a security.
Imagine that I could not get my feet in US (no visa available for me), thus my money is lost ? (not appearing in court)
ok so my promissory note is ready to use (just to check the dates).
That note must be signed just by the borrower and he must mail it either to me, either to my lawyer.
If he refuses to sign it and mail it, then better not to lend him. It hides something.
Is that all correct ?
the borrower knows that I may not be able to come back US.
Ultimately, to recover my funds (hypothetic), I must hire remotely a commercial litigation attorney, who will try to recover the funds on my behalf (100% representation for a distant customer).
The drawback will be the high price of the litigation attorney (30% of the amount recovered).
Is that a realistic interpretation ?
Or can we say, that since I can't be in US, I should not lend money to a person residing in US ?
ok great answer and service.
So in conclusion: better not to talk money with friends.
If we still have to do the transaction, then he must send me this note by USPS express.
Else something is wrong or fishy.
an agent will be a business law lawyer or a company specialized. Right ?
Not an immigration lawyer.
I have a last doubt:
regarding my friend (we were classmate 20 years ago),
is that better that a lawyer gets the note ? He would be inclined to reimburse the money on the date written on the note.
Or the result is the same ? The precious thing is the note itself ?
I will reopen this thread and allow a small bonus on that additional question.
Here is what my usual immigration expert told me:
"There is the option of setting up an account and have both names on it. You put the account in your name in CA and then he goes to the bank and does a signature card at the branch in Austin"
Could you rate this solution and explain it to me ?