Consumer Law, Warranties Contracted $25,000 Loan

[Cashuser]

18 months ago, my husband and I loaned $25,000 to a friend. All three of us signed a contract stating the money would be returned in full at the end of 2 years. The friend died last month. Is the contract still valid? Can we collect the money from his estate?

 

[army judge]

18 months ago, my husband and I loaned $25,000 to a friend. All three of us signed a contract stating the money would be returned in full at the end of 2 years. The friend died last month. Is the contract still valid? Can we collect the money from his estate?

Assuming the contract was validly constructed, you have a prima facie case against the decendent's estate.
You should contact the executor of his estate, ASAP, and file your claim.
If the estate has sufficient funds, you could be reimbursed.

 

[Cashuser]

Thanks for your advice. Much appreciated.