QUESTION

Is a document typed up by my father stating that I will pay for a car loan in his name, that has been signed by myself and him and notarized, legal?

Asked on Jun 26th, 2012 on Contracts - California
More details to this question:
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1 ANSWER

Business Transactions Attorney serving Los Angeles, CA at Doland & Fraade
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Without reviewing the written agreement and knowing additional facts analysis is difficult. A contract must, however, be based on an exchange of value, known as "consideration". If you got value by use of the car which was purchased in your father's name for credit purposes and what you signed is essentially a guaranty of payment, then it would be enforceable.
Answered on Jul 31st, 2012 at 11:51 AM

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