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John Legal
John Legal, Attorney
Category: Legal
Satisfied Customers: 4631
Experience:  Over 15 years legal experience.
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I just asked a question about a promissory note. Can I ask

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I just asked a question about a promissory note. Can I ask a follow up question to better understand the law regarding this?
Welcome! Thank you for your question.

Sure, I would be happy to help. Please do give me a good rating on my prior response, though.

John
Thank you for the positive feedback. Did you have further questions?
Customer: replied 4 years ago.
A couple of times my friend gave me $100 towards this debt. It is my understanding that any partial payments after the breach constitutes a reinstatement of the agreement. So therefore, would the statute date commence from the last time he gave me $100 instead of the $594 owed after a long lapse. Also, it was in cash, would I have the burden of proof that he gave me anything after the breach if I went to court over this matter.
You are correct about the payments caused the statute of limitations to restart. You are 100% correct that the statute does not start until he gives you the last payment, that payment could be $100, $5, $1, $.50 or $594. It does not matter. You would have to at least prove that a payment was made to you. That could be by your testimony, better evidence would be testimony of another person, a receipt, a ledger where you recorded the payment or something similar.

Once you prove that the statute of limitations has not expired then it will be the obligation of the estate of the debtor to prove that the debt was paid off or how much is still owed.

I cannot provide you with specific legal advise. I can provide you with general information about the law related to your question. My answer, and any information that you can find online, should not take the place of having a detailed consultation with a lawyer in your area to advise you regarding your specific issues.

When you review my initial response, please remember that I cannot guess what information you already know. I am answering the question(s) posed by you based upon my reading of your post and sometimes I can misunderstand or misinterpret your question. If I did not answer the question you thought you were asking, please rephrase your specific question.

Unfortunately, sometimes the law does not support what you would like it to support. I hope you appreciate that I have given you an accurate understanding of the law. I will not just tell you what you want to hear.

Please remember to only rate my answer when you are 100% satisfied. IF you feel the need to click either "Helped a little" or "I expected more", please stop and reply to me via the REPLY TO EXPERT button with the issue you have. I will be happy to continue further and do everything I can to provide you with the service you seek.

Please show your appreciation for my candor by clicking VERY INFORMATIVE, the SMILEY FACE and positive feedback.

There can also be a delay of an hour or more between my responses to your follow up questions because I may be helping other customers or have stepped away.

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