Q: I loaned someone cash & have handwritten IOU & cashier check & what the checks for. Is this legal & binding in WA ST?
I loaned someone $3,500 cash and have a cashiers check that shows what the loan was for to this person on the comments. I have a handwritten, dated and signed IOU from this person indicating they owe me this amount of money. Is this legal in binding in Washington state because now they don’t want to repay me? Thank you
A: Under general principles of law (not specific to WA), this is a valid and enforceable contract. There are strict time deadlines so that you must file your lawsuit in Court or take other action or be forever barred from relief.
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