Q: Promissory Note Amendments w/out signatures valid?
PN due date expired and then the 2 parties had an email exchange agreeing to new terms. Is the email valid as an amendment to the PN without signatures of the 2 parties?
It depends. The statute of frauds may come into play but generally, a contract can be amended by mutual agreement. To have a mutual agreement you have to meet requirements of a contract but this can often be done in a email.
The statue of frauds requires signatures in certain situations unless an exception is met. As such, you should talk to an attorney since the details will affect your ability to pursue collections.
Please be aware that any answer is based on all the events occurring in Colorado. Further, please be aware that this is not legal advice. This is generic information intended to help the reader develop questions to ask an attorney when they are ready. Each case is different. Anyone reading this answer in need of legal advice should contact an attorney.
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.