Legal Question in Business Law in California
Promisary Notes
Is there a limit to the number of years you can write a promisary note for and what is the lowest intrest rate you can charge?
Asked on 2/12/00, 7:01 pm
1 Answer from Attorneys
Ken Koury
Kenneth P. Koury, Esq.
Re: Promisary Notes
There is no limit on how long a note can be for nor is there a limit on how low the interest can be. However, there may be tax issues if the interest is below market value on a large sum. Someone else will have to answer that, i am not a tax expert.
Answered on 2/16/00, 2:45 am
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