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Letter before Action - Unpaid Promissory Note

Letter before Action - Unpaid Promissory Note

Claim of Fraud

A letter before action on claim on fraud relating to unpaid promissory note issued for the purchase of shares in a company.

This is a claim against the addressee for a breach of the Promissory Note.  Under the memorandum of agreement, the shares in the Company were sold. However, the buyer defrauded the vendor by failing to pay the outstanding balance of the Completion Amount stated in the Promissory Note.

The vendor demands immediate payment of the outstanding Loan with interest. The vendor emphasises that all rights to pursue legal and equitable remedies against the buyer are reserved.

How to use this Document?

 

This document can be used after the Buyer defaults in payment of the shares, thus the Vendor is entitled to claim for fraud on the Promissory Note. 

The outstanding Loan with interest and due date are clearly stated.

This document should be carefully read by the Individual Vendor and Buyer.

 

How to Tailor the Document for Your Need?

  1. Create Document: Click “Create Document” button and the document will be prepared with your account details automatically filled in.

  2. Please fill in any additional information by following the step-by-step guide on the left hand side of the preview document and click the “Next” button.

  3. When you are done, click the “Get Document” button and you can download the document in Word or PDF format.

  4. Please review the document carefully and make any final modifications to ensure that the details are correct before sending to the addressee.

 
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