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?

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2 Lawyer Answers
George W. Wolff Esq.
George W. Wolff Esq.
PREMIUM
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.

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