Memorandum: Debt Collection

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Memorandum of Law To: Senior Partner Sam Smith From: Research Clerk Re: Bob: Debt Collection Date: January 15, 2015 Questions Presented I. Is there a Cause of Action for Bob to bring suit against defendants? II. Which court(s) has jurisdiction for the amount in controversy in the three lawsuits that Bob wants to file? Statement of Facts Bob (“plaintiff”), who lives in Los Angeles, CA, generously loaned three different individuals three different amounts of money. Twenty-four months ago plaintiff loaned Dan (“defendant 1”) $55,000.00. Dan signed a promissory note stating he would repay the loan in 18 months. Dan has not paid anything, defaulting on his loan. Fourteen months ago, Bob loaned Cathy (“defendant 2”) $7,000.00. Cathy agreed to repay her loan in 12 months, also signing a promissory note and defaulting on her loan. Then, 2 months ago, Dan loaned $500.00 to Al (“defendant 3”). Al also signed a promissory note and defaulted. Brief Answers…show more content…
I am writing to you to keep you abreast of you potential case(s) that you recently inquired about. Recently you contacted me at the Law Firm of Smith and Jones because you needed advice regarding 3 individuals that you loaned money to and the individuals breaking the terms of your signed agreements. What I will try to do in this letter is explain what would be in your best interest. After researching the issues, and based on the facts that you will see below, I believe that the outcome would strongly be in your favor because you were the innocent victim in all 3 situations. You generously loaned money to “friends” and they took advantage of the nice guy. Well the nice guy will not finish last! What you will see below is a break down of your 3 “potential” cases and what I think would be the best options for you to compensate for any of the losses you have

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