If I loan money on a Promissory Note which is secured with collateral?

which is of a business and they close down the business, does that breach the contract. They still want to make payments or should that make the contract void and total amount due?

Answers:
as long as they making the payments, and abiding by the note - you cannot demand full payment

the only way you can say they breached is if in the contract it states "Upon the closing or sale of said business, the balance of this note is due in full with (period of time)."
you wrote the note, did you write that as part of the contract when business is sold it voids the contract and the principle is due in full?

The Secured Loan information post by website user , LoanSecuredLoan.com not guarantee correctness.


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