December 10, 2023
The Business Gambit: Friendship, Loans, and a Potential Power Grab
A man is concerned about his wife’s plan to seize her friend’s business as collateral for a loan, potentially damaging their friendship. The agreement, notarized but potentially predatory, involves the friend’s business and possible employment for the friend if the debt isn’t repaid. An attorney suggests the agreement might be enforceable, though the notary’s role is limited to verifying identities, and predatory lending laws vary by state. The writer expresses distrust of his wife, noting a history of withholding information
