Legal Question in Investment Law in Arizona

Promisary note

The note reads,

US$40,000 USD Dollars

Puerto Penasco Sonora on November 27 2005

1. FOR RECIEVED VALUE, XXX Developments of Mexico S of RL of CV 9 (the ''Subscriber''), for the present note promises to pay unconditionally to the order of ''John Doe'' (''Beneficiary''), a constituteds and existing society under the laws of State of Arizona, the United States of America, the principal sum of US$40,000 dollars, by means of the alienation of the lots identified as lot number 14 of the project so called ''Ocean View Condominiums'' located in Puerto Penasco Sonora, at the latest in one year from the date of the subscription of the present document.

''John Doe'' by means of his/her legal representative expressly clear his conformity with the conditions of this document, resigning from any right that he could have in relation to legal interests that are caused.

2. The subscriber and beneficiary agree that this quanity was not causing ordinary interests on the principal luck of this note.

So far I have not recieved any money on this promisary note. What are my legal options??

Asked on 11/27/07, 6:45 pm

1 Answer from Attorneys

H.M. Torrey The Law Offices of H.M. Torrey

Re: Promisary note

To call the note in and/or effectively proceed with a lawsuit.

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Answered on 11/27/07, 11:43 pm

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