I loaned a friend a sum of money over a year. I have a promissory note signed by him that states he owes me $10,000. I also have an amortization schedule that he prepared. Now he wants to pay in full, but he thinks I did not give him $1500 of the $10,000. He is an attorney and says "Just because the note says that does not mean you have to pay that. Faiure of consideration and unjust enrichment."
Do I have to prove that I withdrew money from my account in the amount of 10,000 in order for him to pay the entire amount back? Or does he have to prove that I only gave him 8,500?
You have, by virtue of the note, proved that you loaned $10,000. If there is a dispute about payments or the balance of the loan, it is your debtor's obligation to provide proof of same. Your writing prevails.
The note shows $10,000 so the presumption is that you lent him that amount. He would have to show that you gave him less or paid it off. Then the burden of proof would shift to you that you actually lent him the amount the burden will generally be on him. Hope this helps...
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