Asked by Anonymous
on 19-02-2020 14:24:27
Question posted in the General Law
category relating to Gauteng
Question value: R 0.00
I lent someone R50k as an investment to be paid back double. I transfered R50K on the 11th of Jan 2019. Before agreeing to lend him the money, we had a contract signed by each other that payment will be made to me at the end of May 2019 and should I not receive payment, then 10% interest will be charged for each month I dont receive payment. The money was to be used as we agreed and he decided to use it for something else without notifying me. To date I have not received anything. I has saved all our what's app conversations, where I was promised payment or the constant excuses of why the is no payment or just no response.
What do I need to do to go the legal route to get my money, with interest where he will need to pay the legal cost
Ask your OWN Legal Question!
If you would like to view the entire answer, you will need to either login or register a FREE account.
DISCLAIMER: Advice or answers from Lawyers on SA Legal Advice are not substitutes for the proper advice of an Lawyer. SA Legal Advice is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Lawyer who assists with your question is not your Lawyer, and the response above is not to be considered to be legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains. The responses above are from individual Lawyers, not SA Legal Advice. The site and services are provided “as is”. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service.