2006-12-06 03:58:51 · 12 answers · asked by jro 1 in Business & Finance ➔ Personal Finance
Not legally but being nasty they can.
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2006-12-06 04:02:14 · answer #1 · answered by MN-Mike 4 · 0⤊ 0⤋
This is one of the reasons it's good to be clear about whether money is a gift or a loan.
Gifts -- such as birthday checks, etc -- are clearly gifts, and the giver shouldn't be able to demand repayment.
If someone gives you money (say, to help with a financial problem, etc.), you should discuss the terms before you accept it. If the person says, "No worries," you should be able to take them at their word. If no discussion takes place, you should be prepared to pay it back -- and when you accept it, tell them that you can pay it back (and when you think you can, for example, "when I get a paycheck" or "in 2 months.") When I have borrowed or been given gifts, I try to return it with interest - 5 or 10%.
If the giver thinks it's a loan, they can demand repayment, but if you all didn't clarify things, they may not be able to legally get it. It can really ruin your friendship, tho.
Money is sticky -- best to get the details clear in the beginning. Good luck!
2006-12-06 04:09:07 · answer #2 · answered by Patricia M 2 · 0⤊ 0⤋
If it was clearly a gift and not a loan, then no. Once a gift is given it belongs to the recipient.
But are you sure it was a gift? If it was a "hey man, I need 20 bucks to get this..." kind of situation... maybe you both assumed something different (whether it was a loan or gift). If it was a gray area like that, I'd probably pay it back.
Also, even if it was a gift, you may consider paying it back. If this person gave it as a gift and is now making a stink about it, maybe they are not someone you want to associate with anymore. In that case you may be better off giving them the money and then avoiding them.
2006-12-06 04:14:54 · answer #3 · answered by J 4 · 1⤊ 0⤋
No.
To demand repayment shows just how rude and crass the giver is.
You can, at your discretion, give the money back, depending upon how solid this 'friendship' is.
2006-12-06 04:09:18 · answer #4 · answered by CyberCop 4 · 2⤊ 0⤋
If it was a gift then no thats the whole point of a gift you GIVE it to someone and not expect it back....But if they are then that really sucks of them its not right at all
2006-12-06 04:03:00 · answer #5 · answered by sarah 5 · 0⤊ 0⤋
NOPE! but make sure there was no ambiguity in the way it was given in the 1st place. If it was outright & obviously a gift then they'd just be 'rude' to ask for it back...i think anyway.
2006-12-06 04:02:53 · answer #6 · answered by Anonymous · 0⤊ 0⤋
No. The question of whether it was a gift or a loan is a matter of proof.
2006-12-06 04:05:47 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Absolutely not. Not under traditional American law.
2006-12-06 04:08:40 · answer #8 · answered by AustinoBambino 2 · 0⤊ 0⤋
If it is in writing yes. Sometimes it is a moral issue.
2006-12-06 04:09:49 · answer #9 · answered by bernice l 4 · 0⤊ 0⤋
No. It was a gift.
2006-12-06 04:05:53 · answer #10 · answered by *babydoll* 6 · 0⤊ 0⤋
Hell No and the nerve of them to ask for it back.....esp. if its a gift.....
2006-12-06 04:06:52 · answer #11 · answered by KC 1 · 0⤊ 0⤋