Ex signed agreement that he would repay a loan?
I live in Ontario if that matters.
I lent my ex $980 earlier this month. I wrote up an agreement on a piece of lined paper which reads:
Joe Smith will pay Jane Doe $780 by October 23rd, 2012. Joe Smith will pay Jane Doe $200 by November 11th, 2012. If he is unable to pay by the specified dates he will either:
-Turn over his personal computer or cellphone
-Sell his personal computer or cellphone
However, he must pay his balance of $980.
Joe Smith, sign to agree:(his signature)
Jane Doe, sign to agree: (my signature)
1. If he does not pay, can I use this piece of paper in court to collect money owed?
2. He didn't sign in the specified spot. He signed at the bottom of the page. Does this matter?
3. I should have added that he may turn over or sell his assets to relieve his debt. Because I added "However, he must pay his balance of $980", is that considered the same thing?
- 8 years agoFavorite Answer
You'll never enforce the agreement to sell his computer, but you can enforce the debt in court.