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Law.Hut
Law.Hut, Lawyer
Category: Canada Law
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Experience:  with over 15 years experience.
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I lent a lawyer who was a friend at the time 110,000.00 dollars

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I lent a lawyer who was a friend at the time 110,000.00 dollars in 2008 they signed a promissory note of the amount, payments to be made, interest rate .Married her a year later . Then lending her another 115,000.00 to save her from bancrupcy .She paid back 75,000.00 dollars she has not made any payments other that one back in 2008 I have post dated cheques but she always said their is no money in the account so you can't cash them.
She sent me a marriage settlement with clauses that state that I have no means of recourse to get my money which I have not signed. She is bulling me and I need some answers. She is holding me hostage because of this situation. I'm from a world where business was done on a hand shake but with her even a promisory note wittnessed by a commissioner of oath and another wittness has no value .This was to be my retirement that I feel she has stole from me. Thanks Al
Submitted: 11 months ago.
Category: Canada Law
Expert:  Law.Hut replied 11 months ago.
Hello:

Do the promissory notes have dates of when the payments are to be made to you? How long ago did you receive the postdated cheques?
Customer: replied 11 months ago.

Here is part of it,
Any balance owing after October15,2008 will be repaid on a demand basis
together with interest accuring from October 15 2008 and set at a rate of (
10 % ) per year,simple interest,not compounded.
If there is a defaultin any payment,thenI shall indemnify ALAN GRIGO, for
all costs,charges and expenses of remedying the default and collection of
the monies due and payable,including,without restrictingthe generality,all
legal fees and costs.

I have 3 post dated cheques written on them morgage payment # XXXXX of 132,
morgage payment #3 of 132 and morgage payment #4 of 132. I did cash the
first payment # XXXXX of 132 payments.


 


The first cheque was dated Dec / 04/ 2009 and on for the next 131 months.
thanks Al

Expert:  Law.Hut replied 11 months ago.
A problem you may have in suing on the promissory notes is that there is a two year limitation period, that begins when you make any demand for repayment. If you do not sue within two years of that date then you lose the ability to sue. That is pursuant to the provincial Limitations Act.

Your other option is to seek an unequal division of property in the division of matrimonial property. The Matrimonial Property Act states that the court is to divide matrimonial property (generally most property acquired during the marriage) equally, unless it is convinced that to do so would be unjust and inequitable, having regard to the following factors:


8 The matters to be taken into consideration in making a distribution under section 7 are the following:
(a) the contribution made by each spouse to the marriage and to the welfare of the family, including any contribution made as a homemaker or parent;
(b) the contribution, whether financial or in some other form, made by a spouse directly or indirectly to the acquisition, conservation, improvement, operation or management of a business, farm, enterprise or undertaking owned or operated by one or both spouses or by one or both spouses and any other person;
(c) the contribution, whether financial or in some other form, made directly or indirectly by or on behalf of a spouse to the acquisition, conservation or improvement of the property;
(d) the income, earning capacity, liabilities, obligations, property and other financial resources
(i) that each spouse had at the time of marriage, and
(ii) that each spouse has at the time of the trial;
(e) the duration of the marriage;
(f) whether the property was acquired when the spouses were living separate and apart;
(g) the terms of an oral or written agreement between the spouses;
(h) that a spouse has made
(i) a substantial gift of property to a third party, or
(ii) a transfer of property to a third party other than a bona fide purchaser for value;
(i) a previous distribution of property between the spouses by gift, agreement or matrimonial property order;
(j) a prior order made by a court;
(k) a tax liability that may be incurred by a spouse as a result of the transfer or sale of property;
(l) that a spouse has dissipated property to the detriment of the other spouse;
(m) any fact or circumstance that is relevant.


You can see that several of these factors could apply to your situation. So you can ask that the court allow you to keep the majority of matrimonial property or not have to pay as high of an equalization amount to your wife to take into account the amounts that you paid to her.
Law.Hut, Lawyer
Category: Canada Law
Satisfied Customers: 7019
Experience: with over 15 years experience.
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