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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 32177
Experience:  Over 5 years in practice
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I wanted to start a small business last year and I didn't

Customer Question

Hello, I wanted to start a small business last year and I didn't have the funds to start it, my partner loaned me £3500 for the business for web development and advertising, it was money paid straight into my business account from her, a year on we have separated and now she is demanding that I pay her back the £3500 in full even though at the time she said take the money I don't want it back as it's for yours and our future when the business starts, now we have separated she has back tracked and demanded the money back, which I am happy to pay, but she is threatening legal action if I don't pay her in full within 28 days? Where do I stand legally on this as u would like to do the right thing for all?
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** I will hell you.
Was anything in writing please?
Customer: replied 2 years ago.
No nothing was in writing, it was just a verbal agreement
Expert:  Ash replied 2 years ago.
Any witnesses ?
Customer: replied 2 years ago.
Erm no although her solicitor gave a check made payable to my business account for £2000. But as for the remainder it was a verbal between ourselves and she said it was a business loan to get me started and she only mentioned I had to pay her back once our relationship ended ?
Expert:  Ash replied 2 years ago.
So business loan not gift?
Customer: replied 2 years ago.
It's complicated, it was a loan to start the business, and every penny has been used for business setup and that was the deal to use for the business
Expert:  Ash replied 2 years ago.
Why are you describing it as a loan then when you said it was a gift? By calling it a loan that implies you will pay it back?
Customer: replied 2 years ago.
Sorry, it's strange trying to describe the complexity of this via messages, basically I had an idea to start up a business my partner had some money available and she said I could have it as a business loan, she never mentioned about any repayment or anything like that she was happy to help launch my business it's only when things started to get rocky and we split and through the arguments she said well I want my money back, and then started threatening legal action if I didn't repay within 28 days, she said that if we were still together it wouldn't matter but as we are breaking up she wanted her money back
Expert:  Ash replied 2 years ago.
Ok, so in short it's her word against yours?
We can chat by phone, it's an additional service, if that is easier for you.