If someone owes you money, and they have verbally agreed to do so, what legal documents can you draw up?
Question by : If someone owes you money, and they have verbally agreed to do so, what legal documents can you draw up?
If someone owes you money, and they have verbally agreed to do so, what legal documents can you draw up so that the agreement for repayment can be binding and be honored in a court of law if the person decides to no longer abide by the verbal agreement?
Best answer:
Answer by nsaychable79
a promissory note say just was is owed and when payments will be paid.dated and signed by that person.
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A verbal agreement is a binding contract, but often hard to prove in court. I would write what is owed and how it is to be paid. Both of you sign it and have at least one impartial witness sign it also.
Getting it notarized isn’t a bad idea either, instead of a witness.