Quote:
Originally Posted by Gaijin
... .
Even if the person is your best friend, put the loan terms in writing with both parties and a witness signing it. That is what I did when I was hurting for money many years ago and had to borrow from a friend. I did not want to ruin the friendship, so it was I who insisted on a legal business transaction in writing.
... .
|
-- Once, in the Philippines, I did just that for a Filippina to help start-up her own small business, (her Scots husband - who was working in KSA. at that time - and I were, and still are, good friends.),.
Our Agreement was drawn-up by an Fils'. atty., signed, witnessed and notarised.
- I'm still waiting. I fear lest that she may well know that the Fils'. legal system can be drawn-out, and even if judgement were to be given in my favor my legal costs would
not be inconsiderable and she would have
no money to repay me - even if she went to prison I'd still be the financial loser.
-- Moral - '
Neither a Lender nor a Borrower be.'.
--
Bibi.. --