Legal Question in Civil Litigation in California
IOU resolution option
A person I owe money to a that will not talk to me. I have no way of paying the money and have proof that he received it. I sent a letter stating a time period in which we needed to agree on a payment method and said if an agreement didn't occur, I didn't owe him anything.
The time period is over and I sent him a letter stating that I owe him nothing. The amount is about $2,000. Is this legally binding and would it hold up in court.
This person is very dishonest, and sometimes has bouts of irrational behavior. I am a little scared of him.
2 Answers from Attorneys
Re: IOU resolution option
You say "This person is very dishonest" yet you are the one trying to get out of paying a debt which you admit owing by using some irrational concept. Take a step back and look into this situation rationally...
Pay him the money you owe using either a personal check, cashiers check or money order made payable to him. Once he cashes the check you will have your proof.
Re: IOU resolution option
No. It isn't binding.