Legal Question in Credit and Debt Law in Virginia

There was money lent but no contract signed
A few months ago a friend of mine lent me $2,500 to start a business I accepted the money and asked when I should pay it back my friend told me to not worry about it that she wanted to help me, since that date the money has been spent and musiness has folded, but now she wants the money back and plans to take me to court she has nothing signed saying that I am to pay it back and I have nothing signed saying that I am not all I have is a few text messages where she vaguely hinted that she told me at one time that I do not have to pay her back. Just wondering what will happen if anything if she does take me to court and how should I handle this situation

Asked on 3/17/08, 1:53 pm

Michael Hendrickson Law Office Michael E. Hendrickson

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Re: There was money lent but no contract signed

The court will likely award her a judgment against you for the $2500 + costs and interest at 6% per annum (in my opinion).

Answered on 3/17/08, 2:29 pm

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