Legal Question in Credit and Debt Law in New York

loan or gift

If a person gives you a check previously stating its a gift but when presented in the memo it says loan to daughter does this constitute a loan


Asked on 6/22/07, 4:37 pm

1 Answer from Attorneys
Debra Palazzo Law Offices of Debra Palazzo, LLC

Re: loan or gift

Yes, the writing of "loan" would override any "oral" agreement and if you cashed it with the writing it would tend to confirm same as a loan.

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Answered on 6/23/07, 7:56 pm


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