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Roger, Attorney
Category: Legal
Satisfied Customers: 31590
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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A friend is wanting to borrow $50,000 to start a new

Customer Question

A friend is wanting to borrow $50,000 to start a new company. He says we will receive 5% stock in the company and will be paid back in full in 90 days. What document will we need to sign to assure us he will do as he says?
Submitted: 10 months ago.
Category: Legal
Expert:  Roger replied 10 months ago.

Hi - my name is ***** ***** I'll be glad to assist.

Expert:  Roger replied 10 months ago.

You'll need a promissory note signed by your friend that wants to borrow the money....and the document will provide the terms of repayment, and the security interest you have in the property.

Expert:  Roger replied 10 months ago.

Also, your friend will need to issue stock certificates for the interest in the company.

Expert:  Roger replied 10 months ago.

Please let me know if you have any additional questions. Also, please take time to positively rate our conversation so I may receive credit for assisting. Thanks again!

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