More details to this question:
My ex boyfriend and I typed up a contract that he would pay me $300 every two weeks until the balance of $1,100.00 was paid off in full. He paid me $100 every two weeks and now owes me a balance of $550.00. He has not paid or responded to my messages for 3 weeks now so I feel I have no other choice but to take this to court. The contract that we both signed was NOT notarized, is this still legally binding? Thank you
1 ANSWER
Assuming that the contract was otherwise valid (e.g. he was competent, he received consideration for his promise, there was no duress, you did not defaurd him, etc.), yes. There is no need for notarized signatures to make this contract valid. In fact, most contracts do not even require a writing to be valid (although a writing obviously helps provide proof that a contract was made.)
One caveat. Most installment payment contracts contain what is known as an "acceleration clause", which provides that if one installment is missed, the entire amount becomes immediately due and owing. If you didn't have one in your contract, you can only sue for the amount which is due as of now. If the whole amount is not yet due, you can either wait until it is and then sue for it, or you can sue for what is owing now and either amend your complaint later (if the court will allow it) or sue again when the rest comes due.
Answered on Dec 09th, 2013 at 3:08 PM