How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask F E Smith Your Own Question

F E Smith
F E Smith, Advocate
Category: Law
Satisfied Customers: 9029
Experience:  I have been practising for 30 years.
Type Your Law Question Here...
F E Smith is online now

I have a Promissory Estoppel question. I have a solicitor

Customer Question

I have a Promissory Estoppel question. I have a solicitor witnessed promissory estoppel note for a loan I advanced to someone. Although they have a Ltd co, I made the note in the persons full name as opposed to his Ltd co name. The signature was only in his personal name without any reference to his company position, ie, director. The only reference to his company was a reference to the company address next to his name. I included this as this was a loan for business purposes. Because I only ever dealt with him as an individual, I wanted him to be personally liable for re paying the loan.I have done some on line research and it seems to be the case that unless the note is ENTIRELY made out to the company, he is liable as an individual for the repayment. I believe he might try and default on the repayment by saying it was a loan to a company which has now been dissolved. For information, the loan was paid into his personal account which he purported to show was his business account.I would appreciate your legal view and in particular references to any cases.ThanksMark
Submitted: 5 months ago.
Category: Law
Customer: replied 5 months ago.
Sorry, this is a Promissory Note document
Expert:  F E Smith replied 5 months ago.

Why do you not use his personal address book the business address? I appreciate it may have been for business purposes obviously, he doesn’t live at the company address.

How much money is involved here?

Customer: replied 5 months ago.
Without going into too much detail, I wanted to tie him down as an individual to the loan as he was a one man Ltd company. Hence my including his name and business address. My understanding is from my own research is that unless he makes it clear in the document that this loan is entirely for business purposes, i.e. It is either in the company name or he signs it in his capacity of Director (and its certified as such) then I can take action against him personally if he tries to evade his liability by dissolving the company, which he has done. For info, I am a qualified Barrister but don't practice. I was hoping for some clarity around these points with a reference to cases etc. This matter is going to trial separately on a fraud matter but I might still be in a situation where I need to seek redress in the civil courts if the judge makes no order or he's found not guilty. I did actually include the company name next to his name at the top of the document.
Expert:  F E Smith replied 5 months ago.

These kind of matters are decided (in it gets to court) “on the balance of probabilities” and hence, court only has to believe 1% more, that this was meant to be a personal liability, your claim to get the money from the individual would succeed.

Based upon what you told me, I think that he is unlikely to escape liability for this.

Can I clarify anything for you?

Please rate the service positive. It’s an important part of the process by which experts get paid.

The thread remains open. We can still exchange emails.

Best wishes.

What Customers are Saying:

  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther

Meet The Experts:

  • Jo C.

    Jo C.


    Satisfied Customers:

    Over 5 years in practice
< Previous | Next >
  • Jo C.'s Avatar

    Jo C.


    Satisfied Customers:

    Over 5 years in practice
  • Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • Buachaill's Avatar



    Satisfied Customers:

    Barrister 17 years experience
  • Max Lowry's Avatar

    Max Lowry


    Satisfied Customers:

    LLB, 10 years post qualification experience
  • UK_Lawyer's Avatar



    Satisfied Customers:

    I am a qualified solicitor and an expert in UK law.
  • Kasare's Avatar



    Satisfied Customers:

    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • Joshua's Avatar



    Satisfied Customers:

    LL.B (Hons), Higher Prof. Dip. Law & Practice

Related Law Questions