Legal Question in Civil Litigation in Korea (South)

acquaintance is willing to pay compensation

my sister told me that i should tell my parents to invest their money to this stock... her *secret(so old and incompetent)* boyfriend urged me so desperately that the price will rise so rapidly. I was so stupid to believe it! i lied to my parents that i found this information on the web and they should invest on it.. my parents did trust me and invested about 15 K USD. However, the stock only fell so rapidly. My sister's bf felt so guilty and he said he'd pay 500 usd a month for 12 mo. (I offered to pay another 500 usd for 12 mo since it is also my fault.) I'm so upset and I won't feel comfortable until I'm SURE he'll pay. Is there any way i can legalize this? I'm sure he'll sign whatever. Thank you so much.


Asked on 9/03/02, 1:07 am

1 Answer from Attorneys
Eric Ballinger Ballinger & Associates

Re: acquaintance is willing to pay compensation

Put it on paper what he will pay, but make sure there are terms abnout what he gets out of the deal. (That's called consideration and is an esssential element to a valid contract.) What he gets out of it can be "love and affection" which would count as consideration and would allow the contract to be held up in court.

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Answered on 9/05/02, 4:54 pm


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