is there a good website that shows examples of contracts that we may use?
2007-08-23 12:44:44 · 21 answers · asked by jk 6 in Business & Finance ➔ Credit
it is quite a bit of money guys about three thousand dollars, it wasnt her idea for the contract it was mine
2007-08-23 15:20:45 · update #1
It's called a Promissoy note. Search that term and your state. But it really needs to be notorized anyway, and your local notary will have the simplest form for your situation.
Here's a few, but these are all way more than you need for a payback agreement to mom..
Paying back on an installment plan? - http://lawsmart.lawinfo.com/letters/PromissoryNote.html
NY lender example- http://www.achildwaits.org/forms/promissorynote.htm
Arizona example
http://www.promissorynotes.net/SamplePromissoryNote.htm
General page 1s.
http://www.promissory-note-form.com/
2007-08-23 12:58:13 · answer #1 · answered by tushanna_m 4 · 1⤊ 0⤋
Just write up an IOU note with the amount borrowed ,
The amount to be repaid monthly and
The % rate per month of the unpaid balance .
Sign it in front of a notary and have them stamp it (costs about $10 at the wells fargo here) .
Make a copy so you each have it
>
2007-08-23 19:51:34 · answer #2 · answered by kate 7 · 2⤊ 0⤋
sit down together to write a contract between your selves. that is what a bank would do. then when you both agree both sign it.
your mother is not tough.she wants to teach you self reliance and integrity to learn how to take care of your self once you are on your own. you have a wonderful mother that is truly preparing you for your life.
2007-08-23 19:52:41 · answer #3 · answered by Anonymous · 2⤊ 0⤋
If you and your mom go to her bank and explain they will very probably lend you the money on your mothers guarantee .
If you do not then repay the bank they will bill your mother .
Because the loans purpose was originally intended for you and the bank will give proof of this your mother could then (if she chose) sue you for the money .
2007-08-23 19:54:22 · answer #4 · answered by Anonymous · 1⤊ 1⤋
A simple one-liner will do. Use this:
I (your name) herewith borrowed US$XX (amount) from Mdm. (your mom's name) and agree to repay the borrowed amount by XX (duration of repayment). Dated this letter on MM/DD/YYY. Make sure you both have withnesses when both of you sign the letter.
2007-08-23 19:50:07 · answer #5 · answered by SGElite 7 · 6⤊ 0⤋
You dont need a contract. The Trust between you an your mom should be enough.
2007-08-23 19:48:37 · answer #6 · answered by Anonymous · 1⤊ 3⤋
no i don't think so, besides trust me mom won't let you forget you owe her money, here's an idea just write it down in a tablet, and every time you pay something write it down it'll make you both more at ease.
2007-08-23 21:14:02 · answer #7 · answered by janie ruth 1 · 1⤊ 0⤋
Why not just draw one up yourself. It doesn't have to be in a language you cant understand without a lawyer. As long as you both know the conditions you should be fine.
2007-08-23 19:47:56 · answer #8 · answered by Jay Jay 2 · 6⤊ 0⤋
I don't think you need a contract to borrow money from your mom.
2007-08-23 19:48:04 · answer #9 · answered by nicce 3 · 1⤊ 3⤋
you have a tough mom if she makes you sign a contract
2007-08-23 19:47:53 · answer #10 · answered by Anonymous · 2⤊ 2⤋