Claims for repayment of a loan

Mr Smith and Mr Jones are business partners, running a small business.

Mr Smith falls on hard times and Mr Jones loans him $100,000.

After a short while the business is closed down.

Given their long-standing friendship, Mr Smith and Mr Jones had not agreed on terms as to the loan, including when the money was to be repaid and whether any interest would be payable.

 

 

Mr Jones has demanded that Mr Smith repay the money.   Mr Smith is now asserting that the $100,000 was, in fact, money paid to him by Mr Jones for additional work he did in relation to the business.

Mr Jones seeks a lawyer to commence a case for repayment of the money.