Can I be sued for repayment on a loan that never had a specific payoff date?

I dated a guy who loaned me $300. He said I could pay him back whenever and I signed a paper saying I would pay him back. Now we are no longer seeing each other so he is demanding that I pay the money back now. He wants it by next or he’ll sue. Does he have a valid case?

Asked on July 7, 2012 under Bankruptcy Law, California

Answers:

Cameron Norris, Esq. / Law Office of Gary W. Norris

Answered 8 years ago | Contributor

The court can imply a reasonable period for repayment.  (whatever that is)  This guy is a total dirt bag for having you sign a contract and threatening to sue.  He has a valid case.

It sounds like a valid debt to me.  If you want to avoid small claims court, then pay him back.  If you need some more time, wait till he sues, then pay him back.

Best of luck.


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