unpaid personal loan

[swaggo]

I have a verbal agreement with a friend that I made 3 loans to from 10/2000-04/2001 in the amounts of $700.00,$900.00, $500.00. My question is this verbal agreement legally binding. I trusted this friend on their word. I am being cautious and want to say or write the correct thing because this individual is a law student and might try to bluff me.

thanks swaggo

 

[JETX]

The important issue is NOT whether the verbal is binding or not (it probably is), but why not put it in writing and eliminate the potential problem of trying to prove its existence???

Write up a promissory note (samples are easy to find on the internet http://www.google.com/search?q=promissory+note+forms )
Get one, fill it in for your specifics and get it signed and notarized. And if he refuses to sign it, then you at least know that he is very probably going to refuse to honor the verbal agreement also.

DO IT NOW!!!