Legal Question in Credit and Debt Law in Missouri
Ex-father-in-law wants to sue
Married in February 2000. March 2001 husband's father loaned him money to start a business. June 2002 I filed for divorce. No payments made towards this business loan as the first year the expenses exceeded the income. No demand for re-payment had come from my father-in-law until after I filed for divorce & he became aware that due to the recent passing of both my parents I received an inheritance. In the divorce I am not asking for any part of the business. The business is a sole-proprietorship. There were never any formal or informal papers drawn up and signed regarding this loan. My questions is, can I be held responsible financially?
2 Answers from Attorneys
Re: Ex-father-in-law wants to sue
You might be directly or indirectly responsible for the loan to help your husband start his business. However, you have not provided enough information to tell you Yes or NO
Good Luck,
Tony Smith
Re: Ex-father-in-law wants to sue
If you do not want to repay the loan, then your father in law may file suit in an attempt to obtain a judgment against you. There are several legal theories under which he might file the suit. You may have a legal defense to any such lawsuit. From your question it appears that it would come down to his testimony that he lent the money to both you and your husband against your testimony that he lent it to your husband only. Depending upon the amount involved, the statute of frauds may require a writing in order for the loan to be enforceable in a court of law. In any event, you should hire an attorney to advise you and to represent you in court in the event that your father in law files suit. If you are currently being represented by an attorney in a divorce proceeding, that attorney should be able to help you. If not, you may call me for a free telephone consultation at 314-727-2822.
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