business loan among friends

Ask a Lawyer

Question

Country: United States of America
State: Tennessee

My husband loaned $30K to a business acquaintance.This person signed a letter stating he would pay him bk (plus more)and gv him a chk for $30k asking him to wait to cash. Does my husband have any legal standing against this man? He has tried for svrl mnths to collect & he continues to promise him payment. Can you help us? $30k savings (my husband does construction & excavation)

Answer

You can sue him, or even report the bad check to the police if need be--