Question about collateral, what happens when the agreement is breached?
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Question about collateral, what happens when the agreement is breached?
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Ok long story short, there was a guy who owed me money, he tried to run off to Florida, I found him, only had 75% of my money, so we wrote up a contract basically stating.
I __________ will pay back ______ $______ by March 31, 2009
Doral Cavalier HIN#___________ as collateral signed and dated.
It's almost end of April, I put the boat in my name the day I received it as a collateral just in case, do i have the legal ownership of that boat now? He's on the run at the moment because of a next guy he tried to scam, and never contacted me once since the day he signed it
The boat is worth 3 times the amount he owes if that makes a difference
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Songbyrd JPA ✡ Jewish Lawyer
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I would argue the boat is your. |
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