Virginia  |  Credit and Debt Law

Legal Question

Asked on: 11/25/06, 4:45 pm

Is my promissay note still valid?

A year and a half ago, I signed a promissary note that my ex-bf wrote up. I don't exactly remember the terms and conditions, but I remember $1500 was given to me. I never got a copy of the note nor was there a witness. He has since then moved to Florida, lost 2 jobs and is now requesting the money back. He has been calling my phone as well as my roommate requesting work phone numbers and money. Is the note still valid since he moved out of state and it's been almost 2 years without him requesting the money? Also, is it part of my rights to request a copy of the note? Thank you for your help.

3 Answers


Answered on: 11/25/06, 9:59 pm by Jonathon Moseley

Re: Is my promissay note still valid?

Your question really boils down to two different questions. The first situation is if there IS a Promissory Note. The second is if there isn't.

If you don't have a copy of the Promissory Note, and if he won't give you a copy (assuming he won't) then it may no longer exist.

If you were taken to court and you ADMITTED that you signed a Promissory Note, the judge would take that into account. But since no one has a copy and no one knows what it says, the judge would probably not have anything to work with from the Promissory Note. He would take your admission that you did sign a Promissory Note, but he would not know what it said.

He might take that as an admission that you owed the money, but the existence of a Promissory Note would not help very much if no one knows what it says. That is, your obligation would rest on a different legal theory.

On the other hand, if there was no Promissory Note, you could STILL be liable to repay the loan IF it were proven that you received the money and that the money was intended as a loan.

Virginia law does provide for a statute of limitations. A lawsuit can be filed, but it will be defeated more than 3 years after a VERBAL contract and more than 5 years aver a WRITTEN contract is BREACHED (not signed but broken).

The law does allow a debt to be put to rest after the statue of limitations.

Note that the statute of limitations starts to run from the date your repayment was DUE and you violated that obligation by not paying. The statute of limitations does not run from when the money was given to you, but from the time you were responsible to pay it back.

Note that one of the problems with not having a copy of the Promissory Note is that no one knows WHEN the money was due to be repaid. Maybe the money is not due until 2008. We don't know.

It does NOT matter where your boyfriend moves. Debts can be ollected worldwide.

It COULD matter if you have any counter-claims or set-offs against the amount loaned. I say that because such situations are usually very complex.


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Office of Jonathon Moseley 1818 Library Street, Suite 500 Reston, VA 20190

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Answered on: 11/25/06, 4:58 pm by Daniel Press

Re: Is my promissay note still valid?

The note is still valid. The statute of limitations is AT LEAST 4 years. You do have a right to request a copy.


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Chung & Press, P.C. 6718 Whittier Ave., Suite 200 Mclean, VA 22101

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Answered on: 11/25/06, 5:14 pm by Michael E. Hendrickson

Re: Is my promissay note still valid?

It's quite obvious that you're looking for legal loopholes to avoid having to pay a debt which apparently you're ethically and morally obligated to pay.

What more needs to be said?


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Attorney & Counsellor at Law 211 North Union Street Suite 100 Alexandria, 22314

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