When money changes hands in business, clarity is essential. A Promissory Note provides a written promise to repay a loan under agreed terms — protecting both lender and borrower from misunderstandings or costly disputes.
At Roussos Law Group, we help Florida businesses and individuals draft, review, and enforce promissory notes that meet all state legal requirements. Whether documenting an internal business loan or securing outside financing, our attorneys ensure your agreement is valid, enforceable, and aligned with your business goals.
A Promissory Note is a legally binding financial instrument that outlines the amount borrowed, repayment terms, interest rate, and default provisions. In Florida, a promissory note functions as both a contract and a negotiable instrument under the Florida Uniform Commercial Code (UCC, Chapter 673, F.S.).
There are two main types:
These agreements are commonly used in:
A promissory note serves as the foundation for many business transactions. Without a properly drafted agreement, disputes can arise over repayment obligations, interest, or collateral rights.
A clear and enforceable promissory note helps you:
At Roussos Law Group, we routinely advise clients on the creation, review, and enforcement of promissory notes. Common legal issues include:
Our attorneys ensure your promissory note is compliant, comprehensive, and enforceable in Florida courts.
A well-drafted promissory note minimizes financial risk and creates a clear legal record that protects everyone involved.
Yes, as long as they meet Florida’s contract and negotiable instrument requirements, including clear repayment terms and valid signatures.
The lender may pursue repayment through demand letters, collection actions, or lawsuits. If secured, the lender may also claim the pledged collateral.
Yes. Under F.S. §687.02, interest rates exceeding 18% (or 25% for higher-value loans) may be considered usurious and unenforceable.
Yes — promissory notes are often used for loans between shareholders or members, but terms should be documented carefully to prevent disputes.
While not required, legal review helps ensure compliance with state law and enforceability in the event of default.
Our experienced attorneys are ready to guide you through every step with confidence.
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Yes, as long as they meet Florida’s contract and negotiable instrument requirements, including clear repayment terms and valid signatures.
The lender may pursue repayment through demand letters, collection actions, or lawsuits. If secured, the lender may also claim the pledged collateral.
Yes. Under F.S. §687.02, interest rates exceeding 18% (or 25% for higher-value loans) may be considered usurious and unenforceable.
Yes — promissory notes are often used for loans between shareholders or members, but terms should be documented carefully to prevent disputes.
While not required, legal review helps ensure compliance with state law and enforceability in the event of default.
