Whether a friendly loan can be conditional?
Daksh
(Querist) 11 August 2010
This query is : Resolved
Dear All,
A took a friendly loan from B for purchasing a bike and at the time of purchase the B provided the money by swapping his credit card.
Now the relationship does not remain cordial and instead of taking the money the B wants the bike and is insisting of making the balance payment and pressurising A to transfer the ownership of bike in his name. (Is it lawfully right and possible).
What is the way out.
Kindly comment.
Best Regards
Daksh
Devajyoti Barman
(Expert) 11 August 2010
No if the owner of the bike is A then merely by offering to pay the balance money the B can not become the owner. The creditor can not enter into the shoes of the borrower merely by repaying any debt.
Devajyoti Barman
(Expert) 11 August 2010
No if the owner of the bike is A then merely by offering to pay the balance money the B can not become the owner. The creditor can not enter into the shoes of the borrower merely by repaying any debt.
