Do we have law or regulation on hiring Boat or Car?

Question

One company hire my skiff for $40.00 per day. No agreement on paper only talk agreement. After a few months this company lost my skiff. What the company will do to my Skiff and the remain Boat hire funds?

Answer 1

Its not possible to predict what they will do. Do you have any invoices where you billed them for the monthly rent? Do you have a document that says you own the skiff? Do you have a document that estimates the used value of your skiff? You are on very shaky legal grounds. The remaining hire will probably never be collected. Always get it in writing. You'll have take them to court, if they don't pay for the used value of the boat.