Letters to the Editor
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Never loan anything you expect to get back
It's a sad lesson. You have to experience to fully know it. But it's true: Unless you are willing not to get something back, don't give it out.
Also: Get everything in writing. Even with good friends. If they say, "Why do we have to put it in writing? We're friends" say back, "Why can't we put it in writing? We're friends."
Don't forgive your friend until the check clears. Then consider the money his apology.
The money you lose on a deal gone sour is money you paid to gain a lesson. It's money well spent if you learn that lesson. It is money wasted if you don't.