SA XD45 for $300

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  • muncie21

    Sharpshooter
    Rating - 0%
    0   0   0
    Apr 6, 2008
    430
    18
    If he's truly a friend, offer to loan him the $300, using the gun as collateral, for a pre-determined period of time. At the end of the time period, it's yours if he decides not to buy it back.
     

    cce1302

    Master
    Rating - 0%
    0   0   0
    Jun 26, 2008
    3,397
    48
    Back down south
    If he's truly a friend, offer to loan him the $300, using the gun as collateral, for a pre-determined period of time. At the end of the time period, it's yours if he decides not to buy it back.
    it is illegal to use a handgun as collateral for a loan in the state of Indiana.


    IC 35-47-4-2
    Loans secured by handguns
    Sec. 2. A person who makes a loan secured by a:
    (1) mortgage;
    (2) deposit; or
    (3) pledge;
    of a handgun commits a Class B misdemeanor.
    As added by P.L.311-1983, SEC.32.
    Indiana Code 35-47-4
     

    JohnBoy1

    Plinker
    Rating - 100%
    5   0   0
    Jan 7, 2010
    102
    18
    I was supposed to pick it up today but he said he had it at home and he lives in martinsville, i told its fine just whenever really. I told him if he ever wanted it back later il sell it back for the same price. He is a good guy and ive sold him a few of my pistols also. Im dying to go to the ranger with it though, a compact 45 SA is what ive been wanting.
     

    stmoore

    Marksman
    Rating - 100%
    1   0   0
    May 17, 2008
    165
    16
    Indy
    Funny how my guns still count as assets when applying for lines of credit. I believe the spirit if this code is mistaken. Example - pawnshops, same thing.

    Further, then buy the gun for $1.00 (there has to be consideration) and then give the guy $300 in a separate transaction for something else. If later he wants the gun back, sell it to him....


    it is illegal to use a handgun as collateral for a loan in the state of Indiana.


    IC 35-47-4-2
    Loans secured by handguns
    Sec. 2. A person who makes a loan secured by a:
    (1) mortgage;
    (2) deposit; or
    (3) pledge;
    of a handgun commits a Class B misdemeanor.
    As added by P.L.311-1983, SEC.32.
    Indiana Code 35-47-4
     

    JohnBoy1

    Plinker
    Rating - 100%
    5   0   0
    Jan 7, 2010
    102
    18
    Im only 25 but i have been raised in a very old fashion family where a mans handshake is all the contract u need.
     

    JohnBoy1

    Plinker
    Rating - 100%
    5   0   0
    Jan 7, 2010
    102
    18
    Well i was supposed to get it last night but ended up loaning my sister the money for her gas bill that she somehow forgot to pay for two months. Now im hoping for friday.:xmad:
     
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