My Landord (of 5 years) asked me and another tenant to lend him money to help his three million dollar resort open for business.
Wanting to help our landlord out and with an offer of a high interest rate, a promisory note was written off and we though we were lending HIM the money and he did sign it. We made the check out to a company and we were under the impression that it was his.
6 months later, he did not pay the promisory note and claims that since he is just an officer of the company, he is not responsible.
He owes me $15,000 and the other tenant $5000.
We have
*Two promisory notes with his signature.
*An email to the other tenant from the landlord asking for help.
We also found out, from the landlord, 2 months after lending the money, that before lending it, his company was successfully sued by Dell and a kitchen company for buying equipment without paying.
Neither of us have that much money and really can't afford lawyers. I would appreciate any advice (even anonymous) from law students.
Thanks.
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