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hi lawyers! [/b]
here's the thing, i made an advance payment on cement and bakal for house construction, i gave 1M last aug 2011. no contract was signed and no receipt since the contractor is my uncle, however he assured me that in case the project wont push through he will give my money back with 15% interest since the value of cement had gone up. Things came up and im backing out from the project, i have informed him about it and he assured me to give my money back on certain dates but it was not satisfied and done, now he promised to give the money this june 2012, my question is, just in case he wont pay me..again.. what kind of document should i make him sign so that i can be assured that my money will be returned? basically asking what information should i ask from him to put on a document of payment.. thank you lawyers!
here's the thing, i made an advance payment on cement and bakal for house construction, i gave 1M last aug 2011. no contract was signed and no receipt since the contractor is my uncle, however he assured me that in case the project wont push through he will give my money back with 15% interest since the value of cement had gone up. Things came up and im backing out from the project, i have informed him about it and he assured me to give my money back on certain dates but it was not satisfied and done, now he promised to give the money this june 2012, my question is, just in case he wont pay me..again.. what kind of document should i make him sign so that i can be assured that my money will be returned? basically asking what information should i ask from him to put on a document of payment.. thank you lawyers!
