Have Legal Questions? Ask a Lawyer Now.
Hi, my name is XXXXX XXXXX I will be glad to assist you, but need a bit more information, if you do not mind,
1. In what industry are you a registered representative ?
2. Why did your boss pressure you to sign promissory notes if you never received the money that is reflected in the note ?
3. For what purpose was the note signed ?
1. i am in the scurities industry2. he had to pay the monies as a settlement to a client as opposed going the full length of an arbitration and possibly losing more.
3. my boss says the firm doesn't suffer losses...i do
4. did he insisit on my signing this note because i don't have to pay and he took advantage of me? in my industry, the one thing you don't want is to have your liscenses marked. ie: series 7, 63 , 4 etc. if the firm terminates and enters anything negative as to why, this is considered a "mark". any marks can delay employment elsewhere as you may be considered "risky" to hire . please answer my question. i am all stressed out. thank you again
hi andrea, anything yet?
andrea, ther wasn't any place to rate your service. why?
Your manager has put you in a very difficult position telling you to either sign the note, or your employment file will be blemished with something that the manager would write on your records
If the loss suffered by the client was the fault of the firm, there is no reason you should pay the note. If the note was already given to the client, then the client will expect payment. If the fault was not yours, and it was your boss that made the mistake, you should not pay the note. You should bring this matter to the attention of someone within the firm that has greater authority than your boss because that is the only way that you will be able to get out of paying the note, and there is no reason why you should take the blame and pay for someone else's mistake. The firm should have Errors and Omissions insurance coverage, so even your boss would not have to pay, he just wants to put the blame for this mistake on you and keep his record clean. You really should get this straightened out by someone higher up in your firm because the mistake will go down on your record the way your boss has it worked out.
Thank you for the Excellent Service rating, and the bonus, I appreciate it greatly, If you have questions in the future, please feel free to ask for me by typing my name at the beginning of your question, like this,
"For Andrea .......... "
hi andrea..................this has bothered me. in actuality, you didn't answer my question. i wanted to know if the promissory note can be dismissed if i was coerced and minipulated , and in a state of duress whrn i signed it. please answer this.
The promissory note will appear valid on its face so, it is up to you to raise the issue of duress. If you do not bring this to anybody's attention, you are liable for its payment. Ignoring it will not invalidate your obligation to pay the note. I apologize if I was not clear on this. That is why I had stated the following in my previous Answer,
"...If the note was already given to the client, then the client will expect payment. If the fault was not yours, and it was your boss that made the mistake, you should not pay the note. You should bring this matter to the attention of someone within the firm that has greater authority than your boss because that is the only way that you will be able to get out of paying the note .........."
If you need further clarification, please let me know and I will be glad to explain further,
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).