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My husband got a boat from a friend about 3 years ago. There…

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My husband got a boat...
My husband got a boat from a friend about 3 years ago. There were some emails back in forth in regards XXXXX XXXXX condition of the boat and how much should be paid for the boat (11,000$), but never a bill of sale. We received the boat and it was in less than favorable condition. In the meantime my husband and this friend had a falling out over a business transaction. My husband used the boat for the past 2 summers. We recently heard from this person and he wants his 11,000$ for the boat. We cannot pay him that amount because we don't have it. We are unwilling to take a loan out because the boat is not in the condition that he stated and is not worth the money he is asking. We have offered to return the boat to him and or sell it and give him the profits. His is not budging and is threatening to sue us for the money. What should we do?
Submitted: 8 years ago.Category: Legal
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Answered in 2 hours by:
6/16/2010
Lawyer: INFOLAWYER, Attorney replied 8 years ago
INFOLAWYER
INFOLAWYER, Attorney
Category: Legal
Satisfied Customers: 63,573
Experience: Licensed attorney helping individuals and businesses
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Hello and thank you for your question. What can I answer for you?
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Customer reply replied 8 years ago
I need my question answered and to find out what we are legally obligated for? Is returning the property enough restitution or do we need to pay him back? There is no written contract just a couple of emails back and forth between my husband and the original boat owner. The boat is registered to us.
Lawyer: INFOLAWYER, Attorney replied 8 years ago
Returning the property would be enough and should be the term of the settlement. A court is not likely to require more.
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