Legal Question in Credit and Debt Law in Alabama

I signed a promissory note jointly with another person. Are both signors equally obligated or can the lender pursue payment against one or the other? This is in Alabama.

Asked on 6/10/11, 11:14 am

1 Answer from Attorneys

Edward Tracy Southern Legal Group, P.C.

This depends on how the promissory note is written, how it states each party is responsible. If one party has complied and another hasn't then it would depend on the exact verbiage if the parties could be held liable separately. I hope this answers your question.

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Answered on 6/10/11, 1:30 pm

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