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What is my recourse or options i have when a General Contractor signed a promissory note to borrow $ for a project.

CaliforniaBond Claims

I entered in a contract(promissory note) nearly 2 years ago in the amount of $80,000 to invest in a project from a general contractor. At this time ,he states he doesnt have the monies to move forward on the project and he has already spent the money on other projects

1 reply

Nov 1, 2019

Sorry you have encountered this dilemma. It sounds like you may have a breach of contract, and even a tort (misrepresentation) cause of action against the contractor. It obviously depends on the the specific facts of your situation so I would consult an attorney to discuss to make sure you get the appropriate guidance. ---CN

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