Collect Data For Legal Massachusetts Product Liability Forms For Free

While each state has its rules governing what must be in the document, standard items that you may expect to see within a promissory note include: Borrower's name and contact information. Lender details and contact information. Total amount of money to be borrowed.

Promissory notes are legally binding whether the note is secured by collateral or based only on the promise of repayment. If you lend money to someone who defaults on a promissory note and does not repay, you can legally possess any property that individual promised as collateral.

At its most basic, a promissory note should include the following things: Date. Name of the lender and borrower. Loan amount. Whether the loan is secured or unsecured. If it's secured with collateral: What is the collateral? ... Payment amount and frequency. Payment due date. Whether the loan has a cosigner, and if so, who.

Names of all Parties Involved ? Such a document must include the names of the payee, drawee, and holder. Address and Contact Details ? Should include the residential address and phone number of all parties involved. Promissory Note Amount ? It must show the sum that is outstanding and must be repaid as per the note.

Hear this out loud PauseThe Consumer Protection Act (M.G.L. Chapter 93A ) protects people from unfair and misleading business actions. It gives buyers the right to sue in court and get back money they lost. The law also allows businesses to sue other businesses.

Hear this out loud PauseMassachusetts's products liability law holds manufacturers and sellers strictly liable--even if they didn't do anything to contribute to the defect--if the plaintiff can prove that a product was dangerous or defective enough to cause personal injury or death.