Your friend needs to file suit immediately for the amount that is owed on the loan
, as North Carolina only has a three year statute of limitations
. If it is beyond that time, then your friend would be barred by the statute of limitations from bringing an action against the restaurant and it’s primary owner.
Your friend can also sue for the enforcement of the ownership interest, or to receive the monetary value of that ownership interest (at least $15,000). I would suggest that your friend bring both of these causes of action together against the restaurant.
Since this amount (as well as the loan) are well above the limit for small claims
court in North Carolina, your friend should consult with an attorney immediately about filing suit based on breach of an oral contract
and breach of contract
for the ownership interest.
Unfortunately, JustAnswer experts cannot provide you with specific recommendations for attorneys. However, I can give you a few sites that you can consult to find an attorney.
I hope the above information is helpful.
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