Chino, CA asked in Business Law, Consumer Law, Contracts and Small Claims for California

Q: Is there a simple 1-2 page agreement for a cash transfer between two parties? Something that would hold up in court.

2 Lawyer Answers
Maurice Mandel II
Maurice Mandel II
Answered
  • Consumer Law Lawyer
  • Newport Beach, CA
  • Licensed in California

A: Typical Attorney Answer: It depends. It depends on the amount of money involved. It depends on what terms you want re: security, repayment, interest. It depends on how much you trust the other person- the more you trust, the longer the agreement should be. You can find simple promissory notes online, and these are usually a page, but if you have more complex terms that you want to impose, such as a payment program, security for the loan, etc. you will need a custom agreement prepared to protect your interests. So if you are "transferring" cash of $500.00 you don't need much but if it is $200,000.00 then you need a lot. This website is full of questions from people who thought they could be Bank of America and loan their trusted "friends" large sums of money (I think the last one was $170,000.00) only to find out that when money is involved, the friendship quickly disappears, and so does the money. You can have a simple agreement dated and signed by the parties that will hold up in court, but the question is not what do you need to get that piece of paper called a Judgment, the question is what do you need to ensure you get your money back?

Justia disclaimers below, incorporated herein.

Shawn R. Jackson Esq.
Shawn R. Jackson Esq.
Answered
  • Rohnert Park, CA
  • Licensed in California

A: That depends … upon what is the "consideration" supporting the "cash transfer" … along with the underlying agreement between the parties... so, more information is needed … and/or request an initial free consultation by video call or telephone call with the attorney of your choice.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.