Invested in Condo improvements, now won't pay me

[michele292]

What is the name of your state? Georgia, but other person is now in Texas

I invested in condo improvements in Georgia with my then fiance. We are no longer together. He has since sold the condo for a nice profit and promised to pay me back either what I invested or half the profit; whichever was greater. I invested approximately $13,600 and he has just mailed me a check for $6500 with the words "PAID IN FULL" written on the "FOR" line. HELP!

I have no contract or anything in writing. But I have all of my receipts, etc. that clearly show MY bank account number, etc as the payer. Isn't his payment an admittance of debt owed me?

1) If I deposit the check, am I agreeing to his PAID IN FULL even though it doesn't say WHAT is paid in full???
2) Can I still pursue him for the rest of the money?
3) What are the exact steps to file a claim or petition in Texas if I live in Georgia?

THANK YOU SO MUCH.
Michele

 

[JETX]

Isn't his payment an admittance of debt owed me?

Nope. But it is an admission of a payment made to you. It doesn't have any affect to show any additional obligation.

If I deposit the check, am I agreeing to his PAID IN FULL even though it doesn't say WHAT is paid in full???

Not if you 'black out' the memo line and keep a copy of the check (before deposit) showing the redact.

Per Georgia Code, 13-4-103:
(a) Except as otherwise provided in this Code section, an agreement by a creditor to receive less than the amount of his debt cannot be pleaded as an accord and satisfaction unless it is actually executed by the payment of the money, the giving of additional security, the substitution of another debtor, or some other new consideration.

(b) Acceptance by a creditor of a check, draft, or money order marked "payment in full" or with language of equivalent condition, in an amount less than the total indebtedness, shall not constitute an accord and satisfaction unless:

(1) A bona fide dispute or controversy exists as to the amount due; or

(2) Such payment is made pursuant to an independent agreement between the creditor and debtor that such payment shall satisfy the debt.

Can I still pursue him for the rest of the money?

Yep.

What are the exact steps to file a claim or petition in Texas if I live in Georgia?

Get on I-20. Drive west.