Brooklyn, NY asked in Civil Litigation and Contracts for New York

Q: I didn't owe that person money, but I wrote a contract that I would repay him. if I break the contract, will I be sued?

A friend asks me to use his account to invest in the stock market. as a result, there is some loss in the investment account. my friend asked me to write a contract to repay him. What if i break that contract, will I be sued?

Related Topics:
2 Lawyer Answers
Denis Kitchen
Denis Kitchen
  • Buffalo, NY
  • Licensed in New York

A: This strange set of circumstances raises more questions, but putting those aside, if you made a contract with someone to pay them a sum of money, your breach of that contract could induce him to sue you. You may have a defense, again depending on the circumstance. But WILL he sue you? No telling---how good a friend is he? This is less of a legal question and more of a dilemma about personal relationships.

Lorna J. La Motte , Timothy Denison and Carl Cottone agree with this answer

A: Yes. If you breach the contract, it is possible you could be sued.

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.