Legal Question in Business Law in New Jersey
rights of a personal creditor
basically i leant a friend money with definite terms as far as interest, time frame , and also collected collatoral which would be returned when payment of principal and interest was made.
well before payment was made it was determined that the collaral was stolen goods my friend took from his mother.
now im out the ring the principal and interest?
do i have recourse??
Asked on 10/08/06, 3:03 am
1 Answer from Attorneys
Re: rights of a personal creditor
You have the right to sue to collect on the loan.
Answered on 10/08/06, 12:06 pm
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