Legal Question in Civil Litigation in New York
I want my money back
Last year, 2003 I lent my friend a personal cash loan of $5,000. He said he would pay me back and never has. Since it was cash I have no documents showing our agreement, just a bank statement showing two different amounts that were withdrawn from my account on two seperate dates. Can I sue him? And how much time do I have to bring it to court?
2 Answers from Attorneys
Re: I want my money back
You can, but if your "friend" refuses to acknowledge receipt of the money it will be a difficult case to prove. Was it deposited into a bank account?
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Re: I want my money back
You are describing some terms of an oral contract for the loan of money, never a good idea. If the sum involved exceeds $500 then generally you will need to show some written item signed by the party "to be charged" evidencing your agreement.
However, here you have something in writing. Whether it is sufficient to prove the case is another matter. The statemet could probably be offered as some evidence of your oral agreement. It also depends if there is any other commercial paper involved that the borrower made use of, that you could obtain through discovery.
Do you know what was done with the money?
Does your friend deny the agreement? Why two dates?When was the money due?
6 years is the statute of limitations for a normal contract, although the uniform commercial code provides 3 and 4 year statutes for some situations.I don't know if they would apply here.
Not enough information.