A
alwaysquestion
Guest
I live in Alabama. I recently borrowed money from my ex brother in law. There was a contract signed by both of us, however, he gave the original to me. I needed the money desperatley so I agreed to his terms of $3,000.00 a month for 3 months to repay him. The loan was for a business purchase (a Truck). I have the title on the truck, although in the contract the Vin # is mentioned. I had a bit of trouble when the first payment was due, so I sent him half the payment, $1500.00. He refused the payment, returned it to me and has started charging $100.00 a day late fee. The man is just making it hard on purpose, just because he can. He has told me that the money loaned was just a drop in the bucket to him.
my question is, if he refuses payment, sends the payment back marked as "refused", do I still owe him the money?
Can he come and get the truck as he has threatened to do?
The truck title was not put in my name, however, I am the one he loaned the money too, however as mentioned before he does not have the title and there is no lienholder shown on the title.
I have tried to make arrangements with him, he is just a mean person.
He is in the "scrap metal" business and during all of this in hopes that he would be a little kinder, he asked that I help him find someone to sell some of his material too. I did this and they have signed a contract for 4500 tons. He was in a tight and had no one to help him so I did. Now he has gone back to being the "jerk" he always is. I am thinking, since I found a buyer, that perhaps I can invoice him for a "broker fee" (hoping this will give me a little leverage in dealing with him on the payment).
Ok since I have been so wordy I will ask the 3 questions I need answered.
1. If he refuses partial payment, do I still oew him the money?
2. Can he take the truck from me? I have the original contract and the title is in somone else's name. He gave me cash money.
3. Can I charge him a broker fee or finders fee for finding a buyer for his material?
my question is, if he refuses payment, sends the payment back marked as "refused", do I still owe him the money?
Can he come and get the truck as he has threatened to do?
The truck title was not put in my name, however, I am the one he loaned the money too, however as mentioned before he does not have the title and there is no lienholder shown on the title.
I have tried to make arrangements with him, he is just a mean person.
He is in the "scrap metal" business and during all of this in hopes that he would be a little kinder, he asked that I help him find someone to sell some of his material too. I did this and they have signed a contract for 4500 tons. He was in a tight and had no one to help him so I did. Now he has gone back to being the "jerk" he always is. I am thinking, since I found a buyer, that perhaps I can invoice him for a "broker fee" (hoping this will give me a little leverage in dealing with him on the payment).
Ok since I have been so wordy I will ask the 3 questions I need answered.
1. If he refuses partial payment, do I still oew him the money?
2. Can he take the truck from me? I have the original contract and the title is in somone else's name. He gave me cash money.
3. Can I charge him a broker fee or finders fee for finding a buyer for his material?