I had a friend served with papers that she is being sued for 1600.00. The person states that he let her borrow 1600.00 to pay back rent and never paid him back. They never signed an agreement to the terms and condition of the loan and have a scheduled court date.
I believe she will win because there is no signed agreement. What do you think?
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Verified answer
A verbal agreement between both parties is valid.
Even without a written agreement, a loan is a loan and the lender expects to be paid back sometime. Your friend should try to negotiate a payment schedule.