Dispute over private lending between Huang Rongji and Wang Shoulong

Abstract of judgment:

The core of contention in this case is whether the dispute between Huang Rongji and Wang Shoulong falls into the lawful category of peer-to-peer lending. The plaintiff in this case is obliged to present evidence to support the claim that the economic behavior between the parties constituted private lending. Huang claimed that he had lent an amount of money to Wang in cash. Wang admitted that he had received the money from Huang but insisted that Huang entrusted him to invest the money into a business project managed by Zhang Jianzhong, a third person who is not a party to the action.

During the hearing, Huang submitted the chat log and audio recordings from the WeChat app to the court as evidence that he had urged Wang to pay back the disputed money. Wang acknowledged Huang's evidence and said that he transferred some money via WeChat to Huang on January 11, 2022.

However, Wang could not prove that the money was allowed to be used for investment. In addition, he had showed no objection to Huang's request to return his money and failed to give a reasonable explanation about the online transfer between them.

Therefore, the court supported Huang's claim that the economic dispute between him and Wang was actually an action of private lending under lawful protection. Its ruling said that Wang's deferred repayments of Huang's principal and interest had already breached their agreement and that Wang was obliged to pay back the money in question.