He can have this stock do?
November 30, 2009 8:41pm CST
I have to invest in a restaurant with a friend and began two months ,the restaurant business is not good, the friends do not have the confidence to do so made out of.I also promised that this money be returned to him At that time ,there are 10000 mantissa,said the good borrowed ,so six months after the restaurant business is good,up, friends said that he also has a stake in a restaurant .You say,how can I do ? He can have this stock do?
1 Dec 09
Hi, Dong. so you're in the food industry as well? I had a little nosy at your profile when you commented on my post. Sneaky! Lol! It surely will depend on the agreement you made with your friend (but I'm not sure of the legalities.) If it is a straight up loan, then as long as you keep to your repayment arrangement, you should be able to give him the money back, and you're all square again, and that's finished. But if things are unclear, he might feel you asked him to "buy in" to the business, which means he owns a share in it. I would say have a word with him. Did your friend go into it with you, then leave? If he agreed at that point to be paid back when it was up and running, then it's really his loss, as he left you to do all the hard work.