If you loan me eyes to a person

UPDATED: Oct 1, 2022

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If you loan me eyes to a person

I gave someone that I know 3,000 to
invest in a personal business. The
business is not on the records but I
have a text message conversation stating
that yes he did accept the money but
he’s now refusing to pay me back the
money I vested interest into his
personal business. Am I able to sue the
person New Link Destination
recuperate the money I

Asked on March 13, 2018 under Business Law, Florida


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

It depends on whether the money was an investment which was paid to give you some ownership interest in the business or was a loan to be repaid. You seem it indicate that it was loan, so we will answer the question based on that: in that case, when a loan is not repaid as and when agreed, you can sue for its return based on "breach of contract" (violation of the agreement about repayment). But you can't call the loan early--it must not be paid when the agreement was to repay it, and the borrower does not need to repay it early. To in win court, you will have to prove you paid the money (e.g. by a cancelled check) and also the agreement to repay and its terms (which you can do by text message and your own testimony), as well as the fact that repayment is now late. (Of course, it would be easier to prove these things with an actual loan agreement or promissory note in the future, always get one when you lend money.)

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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