How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Maverick Your Own Question

Maverick, Attorney
Category: Business Law
Satisfied Customers: 4207
Experience:  13+ years of experience
Type Your Business Law Question Here...
Maverick is online now
A new question is answered every 9 seconds

I am a U S citizen who recently sent some money (about $150,000)

Resolved Question:

I am a U S citizen who recently sent some money (about $150,000) to a friend (who is a citizen and resident of Panama) who I met 15 years ago while we were both in school in Louisville, ky. This was to help him buy, improve, and stock a cattle farm in Panama. I'm not sure if he considers this a loan, or if I will have a minority equity interest(we have no firm or written agreement). When do I need supply info, what info, and to whom?
Submitted: 5 years ago.
Category: Business Law
Expert:  Maverick replied 5 years ago.

Did you have any oral conversations on that subject.


Could he argue it was a gift?


What were your intentions with regards XXXXX XXXXX money and what did you understand from his oral statements that his intentions were regarding the money?


Does he already have all the money in his possession?


How was it transfered to him, by check, wire transfer, etc?


How long ago did you send the money?


Customer: replied 5 years ago.
I was to have an interest in the properties bought real and chattel) under a "quarter interest for a third" payment arrangement, with his extra carried interest as payment for all the management and on-site supervision. Title are in his name only, and he checks with me only concerning concept and possible opportunities, and not day to day operations. The money was definitely not a gift.The money was transfered in 7 separate wire transfers, and is all in his possession. I plan to continue with participation in more projects if all goes well. The transfers began in March, 2008.
We never decided exactly how this was structured, and I feel treating this as a loan with a basic interest rate and a further oayment if the project went well, or a a straight-up equity participation would be within what we discussed and would be okay with him.
Expert:  Maverick replied 5 years ago.

At the link below youwill find : Treaty between the United States of America and the Republic of Panama concerning the Treatment and Protection of Investments.


First you should read this treaty and print it out for future reference in case you decide to become an equity partner. This is a fairly complicated process and I would recommend that you seek the advice of an international business transactions lawyer to help you complete the transaction properly. You can use the links below as a place to locate such a lawyer near you.


My suggestion is that you go the promissory note route so that it is easily enforceable if things go south compared to some type of equity participation which can get very expensive to litigate and resolve internationally.


At this link you will find a treaty that governs promissory notes and how they are to be enforced between the two countries. I would also suggest that you print and read and attach that to a promissory note that your friend is to sign. The promissroy note will need to be backed by a security interest in his land. Once again, this is complicated enough so that you will need the assistance of a international business transactions lawyer.

Please click "Accept" so that I can get credit for this answer. We can continue our conversation after that at no additional charge.





Maverick, Attorney
Category: Business Law
Satisfied Customers: 4207
Experience: 13+ years of experience
Maverick and 5 other Business Law Specialists are ready to help you

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK

Meet The Experts:

  • Dimitry K., Esq.


    Satisfied Customers:

    Run my own successful business/contract law practice.
< Last | Next >
  • Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.


    Satisfied Customers:

    Run my own successful business/contract law practice.
  • MShore Law's Avatar

    MShore Law


    Satisfied Customers:

    Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements
  • FiveStarLaw's Avatar



    Satisfied Customers:

    25 years of experience helping people like you.
  • RGMacEsq's Avatar



    Satisfied Customers:

    Licensed Texas General Practice Attorney
  • J.Hazelbaker's Avatar



    Satisfied Customers:

    Experienced and trained in the area of business law.
  • Barrister's Avatar



    Satisfied Customers:

    14 years practicing attorney, MBA
  • MDLaw's Avatar



    Satisfied Customers:

    Experience in business law, contract law and related matters.

Related Business Law Questions

Chat Now With A Business Lawyer
330 Satisfied Customers
13+ years of experience