NEW YORK COMMERCIAL LITIGATION
LAWYERS THAT LITIGATE  PROMISSORY NOTE
CASES ON CONTINGENCY 

Our New York commercial litigation lawyers have extensive experience in enforcing promissory notes. In other words, a promissory note is a promise to pay money. If you have loaned a person or company money, or you sold a business with a payout and promissory note and the debtor defaulted, our commercial litigation attorneys can help. Promissory notes are often given when one person or a company loans money to another, which includes when there is an extension of credit, such as when a business is sold, with a payout over time. 

Our lawyers frequently prosecute promissory note cases on contingency, so there is no up front cost to you. Rather than putting up large retainer fees, after you have already been stiffed by an unscrupulous debtor, let our commercial litigation lawyers, prosecute your promissory note, and collect what is due to you on contingency. By handling promissory note cases, on contingency, our law firm shares the risk with you, because if there is no recovery, you don't pay any legal fees. So if you want to get what you are owed, without having to pay outrageous hourly fees, call our commercial litigation lawyers. 

WHAT IS A PROMISSORY NOTE 

A promissory note is a signed paper, which acknowledges a debt from one person to another.  While use of a standard from of a promissory note is preferred, Courts have found that even less formal writings can qualify as a promissory note, if it is signed and unambiguously acknowledges a debt. Typically to be a promissory note, the note must acknowledge the debt, state the amount of the debt, the interest rate, the date of the debt and must be signed by a person against whom the note is sought to be enforced.  

NEW YORK LAW IS FAVORABLE TO THE BEARER OF A PROMISSORY NOTE 

Anyone who has been in business is probably aware that the litigation process can be expensive, cumbersome and frustrating. When it comes to enforcing a promissory note, New York has a streamlined process, called a summary proceeding. Instead of filing a summons and complaint and then having to go through years of discovery and then waiting for a trial date, a person who has a bearer of a promissory note can file a summons and a motion for judgment based upon the promissory note and an affidavit of non-payment. If the papers are properly prepared, the judgment will usually be granted and you can avoid a long drawn out litigation.