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To prevail on its claim to collect on a promissory note, a claimant is required to prove: (1) the existence of the promissory note in question, (2) that the defendant signed the note, (3) that claimant is the owner or holder of the note, and (4) that a certain balance is due and owing on the note. Manley v. Wachovia Small Bus. Capital, 349 S.W.3d 233, 237 (Tex. App.—Dallas 2011, pet. denied); Wells Fargo Bank, N.A. v. Ballestas, 355 S.W.3d 187, 191 (Tex. App.—Houston [1st Dist.] 2011, no pet.).

Statute of Limitations.  An action to enforce the obligation of a party to pay a note payable at a definite time must be commenced within six years after the due date or dates stated in the note or, if a due date is accelerated, within six years after the accelerated due date. Tex. Bus. & Com. Code. § 3.118(a). 

Breach of Promissory Note

© 2020 Mark Courtois

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