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Missouri Breach of Contract, Promissory Note

What’s the difference between contracts and promissory notes?

A promissory note is a promise to pay a fixed amount of money at a set time. The promissory note is often “for services rendered.” Promissory notes are a product of statute.  In Missouri, the primary statutory section addressing the requirements for promissory notes (and other negotiable instruments in general) is Section 400.3-104, RSMo.

Contracts are for the most part governed by case precedent. Although there are statutes in Missouri which restrict what can and cannot be contracted (such as with Non-Compete Agreements), centuries of case precedent makes clear that a contract requires an offer, acceptance, and consideration.

Contract us regarding the drafting, creation, and/or interpretation of contracts or promissory notes in Missouri.

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