Legal Question in Civil Litigation in California

loan for purchase of a motorcycle

I loaned someone money for the purchase of a motorcycle. I had them sign a promisary note stating the loan was for the purchase of a motorcycle. the loan was to be paid before the end of May. The person paid $1,100 but still owes $1,600 and will not pay. Can I take the motorcycle?


Asked on 7/18/07, 6:20 pm

1 Answer from Attorneys
George Shers Law Offices of Georges H. Shers

Re: loan for purchase of a motorcycle

You can only go ater the motorcycle directly if it is named as security for the loan. Merely stating that the money is going to be used to buy it does not make it designated security. You will have to go and get a small claims court judgment against him, tell the sheriff where he can be found with the motorcycle, determine whether it is worth about the amount of your judgment, and ask the sheriff to seize it. But ffirst check wtih the DMV if they will allow you to re-register it in your name as othre wise you are not going to be able to get a licence to operate it.

Read more
Answered on 7/18/07, 7:04 pm


Related Questions & Answers

More General Civil Litigation questions and answers in California