Legal Question in Civil Litigation in Texas

loan $$ to a friend

I loaned money to a friend on handshake. He agreed to pay back in one year & also threw in extra each 6 months after from profits of business. Been almost 2 years. Not seen any. He turned business over to brother & left town. Business is now up for sale. How do I get my money & what about business for sale?


Asked on 3/31/07, 4:55 pm

2 Answers from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: loan $$ to a friend

To put it bluntly, you have been screwed. You don't have a legal interest in the business, and you can't find the deadbeat; even if you could, it would be your word against his, with you having the burden of proof and no writing.

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Answered on 4/01/07, 3:14 pm
Johm Smith tom's

Re: loan $$ to a friend

Sounds like you'll have to sue them to get it. Talk to a local attorney, and don't lend friends money unless you're willing to never see it again.

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Answered on 3/31/07, 7:44 pm


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