How a Real Estate Business Hired a Lawyer to Draft a Promissory Note Agreement in Wyoming

In 2021, a business in Wyoming posted a project seeking assistance with drafting a promissory note agreement. The client required formalization of a loan arrangement between two related companies owned by the same shareholder, particularly in light of a previous real estate transaction that resulted in a loss. They needed to document the terms of an intercompany loan of $500,000, including an arrangement for writing down bad receivables due to non-payment of interest and principal. As a result, the client received two proposals from licensed lawyers, with flat fee bids ranging from $850 to $1,200, all submitted to meet the requested deadline of less than one week.