NSW Friend owes me money, But he is making his money illegally

[Jarvis]

I'm 16 in a few months and recently my friend has asked me for $4000 and he promised me he will pay me back within a week. It been a week and he is struggling to pay me back. I asked him how he is going to earn money to pay me back he told me he will be selling drugs. I have evidence he said via a social network.

I am planning to give him more time to pay me back. But if he doesn't pay me back in time, I was thinking to report him to authorities.

Is taking him to court a good Idea or will it affect me as well?

 

[kevin586]

A bloke who sells drugs, in my opinion, is the kind of bloke who will give you trouble if you dob him in. Suggest that you give him more time.

next time you find yourself under pressure to lend someone money write up a simple contract like this:

I name and address and drivers licence number xyz, have requested (name and address) to lend me $xyz dollars. I agree to repay all of this money by xyz date. (add other details as desired) sign and dated this xyz day of xyz month
and year

This is a very simple contract and yes its legal. Its legal because its a contact because it conforms the principles of a contract which can be described as:

there is an intention to contract
you have the capacity to contract if you are of legal age and not under the influence of mind altering drugs at the time of agreeing to signing the contact.
there is full disclosure of the terms and conditions of the contract.

there is one or two more but you really need to research this yourself because you and everyone else really needs to know these things.

 

[Jarvis]

A bloke who sells drugs, in my opinion, is the kind of bloke who will give you trouble if you dob him in. Suggest that you give him more time.

next time you find yourself under pressure to lend someone money write up a simple contract like this:

I name and address and drivers licence number xyz, have requested (name and address) to lend me $xyz dollars. I agree to repay all of this money by xyz date. (add other details as desired) sign and dated this xyz day of xyz month
and year

This is a very simple contract and yes its legal. Its legal because its a contact because it conforms the principles of a contract which can be described as:

there is an intention to contract
you have the capacity to contract if you are of legal age and not under the influence of mind altering drugs at the time of agreeing to signing the contact.
there is full disclosure of the terms and conditions of the contract.

there is one or two more but you really need to research this yourself because you and everyone else really needs to know these things.

Thanks for the reply. He has paid me $2000 He promised me another week