Quote:
|
Originally Posted by Shoonra
I think it is significant that DiM and some others haven't put in their suggestion for paying this friend back in funny money like those "Certified Promissory Notes" or "International Bills of Exchange" or similar trickery. After all, they think it will work with credit card companies and the tax collector, why not with someone to whom you owe 98 Large?
|
If you tender legal tender within three days the debt is paid off. It does not matter if he tenders the bond to the Treasury - it is still paid off. However he will not appreciate what scrutiny might arise from tendering the bond to the Treasury for setoff.
As well as "fraudulent conveyances" suggested by Shoonra. That would work for TV ten years ago but it is probably too risky these days.
I suggest cash. If anyone wonders where he is getting so much cash - and he feels obliged to answer, he can just disclose the loan and that you paid him back in cash.
I may be missing something here but it seems that in lending out $98K he would have had to make some disclosures about having those funds. Being paid back is not the problem.
Regards,
David Merrill.