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 Barrister Your Own Question

Barrister
Barrister, Criminal Defense Law
Category: Criminal Law
Satisfied Customers: 23179
Experience:  14 years practicing criminal defense.
19958803
Type Your Criminal Law Question Here...
Barrister is online now
A new question is answered every 9 seconds

About 5 years ago I received $10,000 to start a business and

Resolved Question:

About 5 years ago I received $10,000 to start a business and purchase some equipment for the business. I understood it to be a gift from a generous friend and entrepreneur who had taken me under his wing. He is very well off and has the means to do something like this. We never formalized anything in writing and when I mentioned giving him an interest in the company he said that he wanted nothing in return except to see me succeed. He wanted to give me an opportunity. Fastforward to more present times, the business didn't work out and I ended up having to sell some of the equipment. I contacted him repeatedly over many months out of courtesy to see if he wanted any of the profit from the equipment. I never heard back from him. I sold the equipment because I had a willing and able buyer ready to go and I collected the profit. The money has since been used up. I was unemployed for a short while and I used some of the money to pay off student loans. Now he and his wife have come out of the blue and are calling me a fraud and a jerk when they found out the equipment had been sold and they were not going to be able to get their money back. Do they have a cause of action action me? What can I expect them to do legally? What would my best course of action be if they try to pursue legal action against me? This is obviously very upsetting to me because I don't want this to turn into anything serious or have to engage in legal proceedings if there is a way around that.

Submitted: 10 months ago.
Category: Criminal Law
Expert:  Barrister replied 10 months ago.
Hello and welcome! My name is XXXXX XXXXX I will try my level best to help with your situation or get you to someone who can.
.
Was there ever any type of written agreement for the $10,000 that stated you had to repay it?
.
Any oral agreement?
.
And you understood it to be a gift with no strings attached?
.
Did you ever repay any of the money to them?
.
And it has been around 5 years since the money was received by you?
.
.
Thanks
Barrister
Customer: replied 10 months ago.

Hello Barrister,


 


No written agreement that stated that I had to repay the $10,000


 


No oral agreement either.


 


I understood it to be a gift with no strings attached.


 


I never repayed any of the money to them.


 


It has been around five years since the money was received by me.


 


Thanks!


 


Ed

Expert:  Barrister replied 10 months ago.
Ok, from a purely legal perspective, if there was never any written agreement, even if this was a loan it would be beyond the statute of limitations in VA for them to act to try and recover it. The SOL on an oral contract in VA is only 3 years. If it was intended as a gift as you thought, then once the giftor makes the gift, they give up any ownership of it forever and can't come back later and demand the gift back.
.
So at this point, they would have no legal grounds to try and sue you for the money, whether it was a gift or a loan.
.
If they were to actually try to file suit, an attorney would tell them that the SOL has long since run and they have no case. If they tried to pursue this on their own, then you would just have to assert the SOL as a defense to their claim and a judge will dismiss the case.
.
.
Thanks
Barrister
Barrister, Criminal Defense Law
Category: Criminal Law
Satisfied Customers: 23179
Experience: 14 years practicing criminal defense.
Barrister and 2 other Criminal Law Specialists are ready to help you
Customer: replied 10 months ago.

I can't thank you enough. Have a great evening!


 


Ed

Expert:  Barrister replied 10 months ago.
You are very welcome. Glad to help.
.
.
Thanks
Barrister
Barrister, Criminal Defense Law
Category: Criminal Law
Satisfied Customers: 23179
Experience: 14 years practicing criminal defense.
Barrister and 2 other Criminal 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... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...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:

 
 
 
  • Your Expert advise has provided insight on a difficult situation. Thank you so much for the prompt response. I will definitely recommend your website to my friends. Norma Pensacola, FL
< Last | Next >
  • Your Expert advise has provided insight on a difficult situation. Thank you so much for the prompt response. I will definitely recommend your website to my friends. Norma Pensacola, FL
  • 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
 
 
 

Meet The Experts:

 
 
 
  • Fran L.

    JustAnswer Criminal Law Mentor

    Satisfied Customers:

    8061
    18 yrs of NYC public defense. Extensive arraignment, hearing, trial experience.
< Last | Next >
  • http://ww2.justanswer.com/uploads/RE/retiredlawyer/2012-6-6_19326_franL.64x64.jpg Fran L.'s Avatar

    Fran L.

    JustAnswer Criminal Law Mentor

    Satisfied Customers:

    8061
    18 yrs of NYC public defense. Extensive arraignment, hearing, trial experience.
  • http://ww2.justanswer.com/uploads/RA/ratioscripta/2012-6-13_2955_foto3.64x64.jpg Ely's Avatar

    Ely

    Counselor at Law

    Satisfied Customers:

    2079
    Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
  • http://ww2.justanswer.com/uploads/NA/nathanmoorelaw/2011-5-31_21375_headshotbig.64x64.jpg Nate's Avatar

    Nate

    Lawyer

    Satisfied Customers:

    1625
    Over 10 years of criminal defense practice.
  • http://ww2.justanswer.com/uploads/LA/LawTalk/2012-6-6_17379_LawTalk.64x64.JPG LawTalk's Avatar

    LawTalk

    Lawyer

    Satisfied Customers:

    1434
    30 years legal experience
  • http://ww2.justanswer.com/uploads/PH/philip.simmons/2012-6-7_161915_BIGPhilipSimmons.64x64.jpg P. Simmons's Avatar

    P. Simmons

    Lawyer

    Satisfied Customers:

    1418
    16 yrs. of experience including criminal law.
  • http://ww2.justanswer.com/uploads/marshadjd/2009-6-1_194320_marshajd.jpg Marsha411JD's Avatar

    Marsha411JD

    Lawyer

    Satisfied Customers:

    1380
    Licensed attorney with 27 yrs. exp. in criminal law
  • http://ww2.justanswer.com/uploads/RO/RobertJDFL/2012-6-6_175352_7538220120606.64x64.jpg RobertJDFL's Avatar

    RobertJDFL

    Lawyer

    Satisfied Customers:

    1300
    Experienced in multiple areas of the law.