Pagaré don´t sign these

Davidglen77

Registered
If anyone ever asks you to sign this type of document DON´T UNDER ANY CIRCUMSTANCES.

A pagaré (pronounced paga-ray) is used as sort of a legal IOU document, however in many cases they are used to screw the person who signed them.

Here's an example:
You rent an apartment, and they ask you to sign "receipts" saying they will give you one each time you pay the rent.

These so called receipts (pagarés) are legal documents that can be used to make you pay a debt and you have no recourse if the holder of these decides to cash them in at any time.

The pagaré looks like a plain old receipt however it has the words "sin protesto" and they will put a dollar amount in words and numbers, and ask you to sign and print your name on a series of them.

DON´T EVER FALL FOR THIS; BESIDES BEING UNSCRUPULOUS IT'S NOT LEGAL IF THEY DIDN'T ACTUALLY LEND YOU MONEY OR SELL YOU SOMETHING THAT YOU ARE PAYING OFF.
 

nikad

Registered
There are far worse practices, for example, pagares that look the exact same a regular ticket from any store does... except that it has the very small print " pagare xxxx sin protesto xxxx ". Garbarino, when they give you their " credit card " is getting you to sign these kind of " tickets " every time you buy anything, so you might think you are protected by some specific law ( credit cards ) when in reality you are signing an IOU ( very very different thing! ).
 

Attorney in BA

Registered
Davidglen77 said:
(...) IT'S NOT LEGAL IF THEY DIDN'T ACTUALLY LEND YOU MONEY OR SELL YOU SOMETHING THAT YOU ARE PAYING OFF.
This is inexact. The "pagaré" can be used as a form of guaranty for a lease agreement.

Davidglen77 said:
These so called receipts (pagarés) are legal documents that can be used to make you pay a debt and you have no recourse if the holder of these decides to cash them in at any time.
Specific wording would have to be included to be sure that it could only be executed after a specific date.

The "sin protesto" clause is very common and it only means that they can execute directly in court without having to actually go first to knock on your door and ask to collect.

It is very important -and hasn't been mentioned yet in this thread- that the lease agreement make reference to the pagarés being signed as a guaranty to that agreement. If such reference is not made, either on the contract or on the pagaré, the holder could eventually claim that they are unrelated and seek to collect the lease and the pagarés as 2 separate obligations.
 
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