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?

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2 Lawyer Answers
Denis Kitchen
Denis Kitchen
Answered
  • 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.

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

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

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