Legal Question in Civil Litigation in Minnesota

I'm thinking of going to conciliation court with a matter --- I borrowed (unfortunately, yes a verbal agreement) $10,000 to my husband's friend that bought a bar in Dakota County, Minnesota. This was in 1997 and he indicated that no matter what I would get my money back. Of course, I wouldn't have borrowed it otherwise. The bar sold in 2001 for contract for deed (business bad). When I asked him about the money he said that the deed wasn't up and wouldn't be for several years. My husband passed away fall of 2004. I asked for a paper to say that the loan would be paid and he indicated not to worry. I contacted him again in 2007 and 2008 and he indicated that the deed wasn't up till fall of 2009. I contacted him this fall and he doesn't return my calls. I found the new owner and they indicated that they paid it in full in 2003. I would like to have an attorney but not sure if there is a time clause that I need to worry about. I just want as much money as I can get. If I go to small claims I have to still try and get him to pay the money. Any insite? Also, I found a 100 shares of capital stock for B*********** (corporation) that is in my husband's name. Wouldn't they have to settle the shares? The date is February 27, 1998. Did my time run up. Can I use is a a business debt lost of personal lost for tax purposes?


Asked on 2/19/10, 11:12 am

1 Answer from Attorneys
Maury Beaulier612.240.8005 Minnesota Lawyers

Unfortunately, any statute of limitations on contract would have long since expired if there ws no written agreement. Conciliation court may only handle claims up to $7500.

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Answered on 2/28/10, 8:33 pm


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