Legal Question in Civil Litigation in New York

Lending Money without a formal agreement

I wired money to some business associates and they emailed me that they will return the money. Ten months later, they are not returning the borrowed funds.

The funds were wired from NYC to Springfield, Missouri and Ft. Lauderdale, Florida. The total amount is $50,000 in prinicpal and interest. I have emails indicating that they will pay. Now they are saying that I invested in their business and that they do not have to return the money. Unfortunately, I do not have a legal document saying that they owe me money just emails and the wire from my bank to their bank.

Do I have a chance of getting my money returned? Also, is there something that I can do to make sure that this is NOT done to anyone else.


Asked on 5/14/09, 8:54 am

2 Answers from Attorneys
Jason Kessler Law Offices of Jason B. Kessler, P.C.

Re: Lending Money without a formal agreement

I would argue that you got a case and are entitled to the money. The court will look at the emails and note that the parties intended to be bound in a contract. Since, you are talking serious money I would hire a top notch contract litigator with federal court experience. It may cost you $10-25K in fees but I think that it is worth it.

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Answered on 5/14/09, 9:01 am
Michael Markowitz Michael A. Markowitz, PC

Re: Lending Money without a formal agreement

Jason is correct, as usual. However, I would also add that you may have to litigate in MO and FL. I am not sure that NY would have jurisdiction to hear this action.

If you need help finding an attorney in these jurisdictions feel free to telephone.

Mike.

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Answered on 5/14/09, 3:14 pm


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