If two people sign a promissory note, can only one of them be sued for the full amount? 11 Answers as of January 27, 2014

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
Depends on the promissory note but most often it is joint and severally liable which means both are liable.
Answer Applies to: New York
Replied: 1/27/2014
Stephens Gourley & Bywater | David A. Stephens
Generally the creditor can sue either or both of the signers.
Answer Applies to: Nevada
Replied: 1/24/2014
Marc S. Stern
Marc S. Stern | Marc S. Stern
That really depends upon how they sign. In general, the answer is that they are jointly and severally liable. However, without seeing the note, it is impossible to tell. The creditor, however, only gets to recover the amount of the note, not twice that amount.
Answer Applies to: Washington
Replied: 1/24/2014
MCBRIDE LAW OFFICE | Robert E. McBride
If they are "jointly and severally" liable, yes. Read the promissory note and look for that phrase.
Answer Applies to: Pennsylvania
Replied: 1/24/2014
Kirby G. Moss PC | Kirby G. Moss
The creditor could pursue either one or both.
Answer Applies to: Indiana
Replied: 1/23/2014
Click to View More Answers: