Results 1 to 2 of 2
  1. #1
    Join Date
    Mar 2011
    Posts
    1

    Default Promissory Note Clause

    My question involves business law in the state of: California
    I am writing a promissory note for monies I lent a company that I owe 10% in. In the note I am looking for a clause that would accelerate payoff if any of the ownership percentage (privately held company) is sold for funds. At that time I want this loan to be paid in full. Also I believe I have seen where there is a clause that would protect my interests if the company were to bankrupt. I live in California and I am the one lending the company that exists in Montana. Is California law the state that would govern this note?
    Thanks
    Scott Cyr

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Promissory Note Clause

    If you want the contract to be governed by California law, I suggest including a choice of law clause.

    1. Sponsored Links
       

Similar Threads

  1. Debt Collectors: Promissory Note with No Prepayment Clause
    By Spitman in forum Debts and Collections
    Replies: 1
    Last Post: 03-19-2009, 08:22 PM
  2. Loan Agreements: Promissory Note Law
    By justin10 in forum Debts and Collections
    Replies: 1
    Last Post: 01-01-2009, 04:38 PM
  3. Debt Collectors: $10,000 USD Promissory Note
    By cyclone03 in forum Debts and Collections
    Replies: 2
    Last Post: 05-25-2008, 06:04 PM
  4. Debt Collectors: Promissory Note
    By Jenyfer in forum Debts and Collections
    Replies: 1
    Last Post: 05-05-2008, 11:35 AM
  5. Loan Agreements: Entering Into a Promissory Note for an Existing Loan
    By Elmer in forum Debts and Collections
    Replies: 4
    Last Post: 03-02-2006, 11:42 AM
 
 
Sponsored Links

Legal Help, Information and Resources