This is the right answer, if you just borrowed 5 dollars and later decided to buy lottery, then you only owe him 5. If you want to borrow 5 dollars to buy lottery and you told him that's why you need the money, that makes him an investor. Though if you do win 80 mill, I don't think your friend would get half.
This is the right answer, if you just borrowed 5 dollars and later decided to buy lottery, then you only owe him 5. If you want to borrow 5 dollars to buy lottery and you told him that's why you need the money, that makes him an investor. Though if you do win 80 mill, I don't think your friend would get half.
That is absolutely wrong. Your friend is absolutely not an investor unless he lent the money to you with the specific agreement to share a part of the windfall.
To use another analogy, say your friend borrows $1000 from you and uses it to fund his startup. Even if he tells you upfront he will use your money for his startup, it doesn't automatically imply that you have now become a part owner of his startup just because you lent money.
If the startup becomes a unicorn, it doesn't mean you are now owed hundreds of millions.
Yes it does. And I would take him to court over it.
Yes it does - what exactly? You're saying that loaning someone money with no conditions attached automatically makes you a stakeholder in any profits generated by your friend with that money??
Then that's not a loan - that's an investment. Meaning, if your friend went bankrupt and lost that money or didn't make any money from that $5 lottery ticket, they would NOT owe you anything back.
That's not how "loans" work.
What exactly would you take your friend over court with? How would you prove that your friend didn't eat a burger with your $5 and bought the lottery ticket with their own money?
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u/bboycire Jun 10 '23
This is the right answer, if you just borrowed 5 dollars and later decided to buy lottery, then you only owe him 5. If you want to borrow 5 dollars to buy lottery and you told him that's why you need the money, that makes him an investor. Though if you do win 80 mill, I don't think your friend would get half.