Legal Question in Intellectual Property in Illinois
My signed IOU feels useless, is this a fraud case?
An acquaintance said their landlord didnt have their new tanning salon space ready per contract, so it was not inhabited for business to resume on time. In months, they fell behind financially with personal bills due to no income The salon finally opened and they said sales recovered enough this spring to pay all personal bills w/ exception of the salon rent. They said the biz value was $250K and that a recent court hearing, the judge ordered rent paid by a certain date to prevent eviction. They said salon door locks would be changed immediately with no hope of recovering primary assets (tanning beds & room enclosures) that could otherwise be liquidated. They assured my 4K loaned for rent would guarantee their business survival w/ a new landlord taking over to clear them of eviction threats. To date I have no communication or effort to repay me. My basis to lend was on many points, but they didn�t disclose that the new landlord�s takeover wasn�t finalized and neg failed. It was their assumption based on hearsay that mislead. Had I realized I could have spoken to the landlord to gain thorough risk assessment. Please Help!! � I am unemployed w no money to help my prep for a new job, groceries or bills.
1 Answer from Attorneys
Re: My signed IOU feels useless, is this a fraud case?
If I understand your question, and I am not sure that I do, you loaned money, obtained a written promise to repay, and now you want your money. If this is the case, you will probably need to sue them in small claims.
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