• You do not have £4,000. As your property is fully mortgaged and you have no other means of raising money, you were going to use the boat as collateral for a loan of £4,000. Now that the boat is damaged, you cannot do that.
• If Sammy pays you £4,500, you will use £4,000 to purchase the rights to the process. Therefore, you must get at least £4000 from Sammy. If you get the money, you will have the boat repaired in three or four month’s time.
• You think the fire started at Sammy’s workbench where he had been using a faulty soldering iron. You went in the garage about a month ago and found the soldering iron still plugged in and glowing bright red. There was smoke coming from the plug. On that occasion, Sammy came in and switched it off just in time to prevent a fire. Sammy promised to get rid of the soldering iron but you are sure he did not.
• There has been a short inspection for the cause of the fire, but if you mention the previous incident and the inspector finds the faulty soldering iron the insurance company will probably refuse to pay out. Of course you can’t prove anything, and you do not like making threats, but it may be the only way to force Sammy to pay the money you need.
• You do not have £4,000. As your property is fully mortgaged and you have no other means of raising money, you were going to use the boat as collateral for a loan of £4,000. Now that the boat is damaged, you cannot do that.• If Sammy pays you £4,500, you will use £4,000 to purchase the rights to the process. Therefore, you must get at least £4000 from Sammy. If you get the money, you will have the boat repaired in three or four month’s time.• You think the fire started at Sammy’s workbench where he had been using a faulty soldering iron. You went in the garage about a month ago and found the soldering iron still plugged in and glowing bright red. There was smoke coming from the plug. On that occasion, Sammy came in and switched it off just in time to prevent a fire. Sammy promised to get rid of the soldering iron but you are sure he did not.• There has been a short inspection for the cause of the fire, but if you mention the previous incident and the inspector finds the faulty soldering iron the insurance company will probably refuse to pay out. Of course you can’t prove anything, and you do not like making threats, but it may be the only way to force Sammy to pay the money you need.
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