A promissory note is a promise in writing made by one or more persons to another, signed by the maker, promising to pay at a definite time a sum of money to a specific person or to "bearer." The maker is the person who writes out and creates the note. A guaranty is a contract under which one person agrees to pay a debt or perform a duty if the other person who is bound to pay the debt or perform the duty fails to do so.
Joint and several liability refers to a shared responsibility for a debt or a judgment for negligence, in which each debtor or each judgment defendant is responsible for the entire amount of the debt or judgment. The person owed money can collect the entire amount from any of the debtors or defendants and not be limited to a share from each debtor.
A Delaware Complaint Against Makers of Promissory Note and Personal Guarantors for Joint and Several liabilities is a legal document filed in the state of Delaware to hold individuals or entities accountable for breaching a promissory note agreement and their personal guarantee. This complaint typically seeks to enforce the terms of the promissory note and recover outstanding debt owed to the plaintiff. Keywords: Delaware, complaint, makers, promissory note, personal guarantors, joint and several liabilities, legal document, breach, agreement, enforce, outstanding debt, plaintiff. Types of Delaware Complaint Against Makers of Promissory Note and Personal Guarantors for Joint and Several liabilities: 1. Complaint for Breach of Promissory Note and Personal Guaranty: This type of complaint is filed when the primary borrower fails to fulfill the obligations outlined in the promissory note, such as making timely payments or defaulting on the loan. It also holds the personal guarantors, individuals who have pledged their personal assets as collateral, liable for the unpaid debt. 2. Complaint for Fraudulent Inducement: If the plaintiff believes that the makers of the promissory note and personal guarantors intentionally misled or deceived them into entering the agreement, they can file a complaint for fraudulent inducement. This type of complaint alleges that false representations or concealment of facts led to the agreement being made under false pretenses. 3. Complaint for Unjust Enrichment: In some cases, the plaintiff may argue that the makers of the promissory note and personal guarantors have been unjustly enriched at their expense. This complaint claims that the defendants have received a benefit, such as borrowed funds, without proper compensation or legal grounds, leading to a demand for restitution. 4. Complaint for Conversion: If the defendants have converted the funds received through the promissory note for personal use or unauthorized purposes, the plaintiff can file a complaint for conversion. This type of complaint asserts that the defendants have wrongfully exercised control over the funds, resulting in a claim for damages. Overall, a Delaware Complaint Against Makers of Promissory Note and Personal Guarantors for Joint and Several Liability serves as a legal avenue for seeking redress and enforcing the terms of the promissory note and personal guarantee agreement.
