Investment contract

[saz725]

MD

I recently made an investment with a friend guaranteeing my principal investment plus twenty percent interest. The return date was supposed to be 6 weeks ago. However, I have not received my principal or any interest. In the contract it states (verbatim) "Principal is not at risk of being forfeited or decreased" and the return date is clearly stated.

What steps, if any, should I take to ensure I receive, at minimum, my principal investment?

 

[tranquility]

Your purported contract was silly, who knows what a court will decide? You mention investment, but write as though a loan. If investment, the amount is not guaranteed. If a loan, it is.

The problem for the OP is, usury.

I don't know if it is or not as the law seems to be quite complex in MD.

Subtitle 1 - Interest and Usury :: 2010 Maryland Code :: US Codes and Statutes :: US Law :: Justia