Posted on: 23rd Aug, 2012 12:21 pm
I commented to Friend A regarding an urgent financial need of our mutual Friend B. Friend A volunteered to lend Friend B the money, which was to be repaid within a certain amount of time. The loan was not repaid and Friend A now wants to sue me and put a lien on my home for the amount of the loan ($75K). There was no written contract but the money transfer was effected through my bank account since Friend B didn't have one. Does Friend A have a case?
Hi Penny!
Welcome to forums!
If there is no written contract between you and the person who gave the loan, then that person won't be able to sue you for the debt or place any lien on your property. He won't be able to prove that you were liable for the debt.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If there is no written contract between you and the person who gave the loan, then that person won't be able to sue you for the debt or place any lien on your property. He won't be able to prove that you were liable for the debt.
Feel free to ask if you've further queries.
Sussane
No, no written communication exists. Thank you so much for your help and the warm welcome!
Cheers,
Penny
Cheers,
Penny
Hi Penny!
Welcome back!! :)
You won't have to worry about the liens as no written communication exists between you and the concerned person. He won't be able to prove your liability.
Feel free to ask if you've further queries.
Sussane
Welcome back!! :)
You won't have to worry about the liens as no written communication exists between you and the concerned person. He won't be able to prove your liability.
Feel free to ask if you've further queries.
Sussane
Without honor life is meaningless,Your word is your honor. Legally the lender can be screwed but if you do so , you will be a real loser.Look in the mirror say, Thief and Liar. Can you live with that ? You are home "free".