Tashkent State University of Law English for Law students Final exam paper for 2nd year students’

PART 3. (20 points)
Write a Letter of proposal on the following topic: Anvar borrowed 10 000 USD from Ixtiyorbek, putting his car up as collateral. The Due date for the repayment of the debt was December 10, but he could not pay off his debt. Ixtiyorbek wants to repossess the collateral but someone stole Anvar’s car. Ixtiyorbek needs the money urgently but he does not know what to do.
As a lawyer, write a proposal, suggesting the solution to the problem.
Your letter should follow the structure
Paragraph 1: (state reasons for writing/express understanding of problem)
Main Body
Paragraphs 2-3 (offer advice/suggestions)
Conclusion
Final Paragraph (closing remarks
Write your answer in appropriate style and format in at least 200 words


Dear Ixtiyorbek
After our last conversation about the transaction between you and Anwar, I consulted with my assistant. Now would like to make a few recommendations and guidlines for you.
From what you described in detail, I understand that you lent to Anwar and he pledged his car. But he was unable to repay his debt because his car was stolen.
In our experience, such a situation has been observed many times. I can say that such a situation is an insolvency to pay the debt. However, this varies from bankruptcy, If the person you are lending to goes bankrupt, you have almost no chance of repaying the loan you owed.
Luckily, you still have a few options to get your debt back. I would recommend two solutions in this case. First, you can negotiate with the borrower and review the loan agreement. In this case, the repayment period may be extended. This is called restructuring and can also be done through the courts. Hewever, in this case you are wasting time. My second of advice is that you can demand payment of the debt through another alternative property. I think the second way is more preferable for you, as your urgent need for money.
If you do not mind, I or my assistant can directly help resolve this issue in your favor. If you agree, let us know.
I look forward to hearing from you
Your sincerely
Alisher Yakubov