Shingletown, CA asked in Contracts and Civil Litigation for California

Q: I lent $40000 to a freind. It was to be paid back in full in six months.

The loan was to repair the siding on his house so he could get a $300,000 loan from the bank to finish his shop. He is a General Contractor. He failed to mention that his house was red tagged back in 2017 for performing work without permits so the county had a lien on it. He also doesnt have enough equity to get a $300,000 loan against his house.

Now its a year later and he hasnt paid me yet or repaired the siding. Can I sue for fraud?

Related Topics:
2 Lawyer Answers
George W. Wolff
PREMIUM
George W. Wolff
Answered
  • San Francisco, CA
  • Licensed in California

A: Yes, you could probably sue for fraud, breach of contraCT, etc

Is there a written loan agreement between the two of you??

1 user found this answer helpful

Jason Kelly Smith
Jason Kelly Smith
Answered
  • Irvine, CA
  • Licensed in California

A: Yes.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.