Michael has a Golf which he leased from VW. He recently lost his job and is struggling to keep up with the lease payments. His mother loaned him $800 five months ago to try to help tide him over, but he has not yet found other employment. He realizes that he can no longer afford to keep the Golf. He also has $10,000 in credit card debts. He decides to pay his mother back now as it looks like he will be forced into bankruptcy. What advice would you give Michael in relation to the repayment of the loan to his mother? Please refer to specific legal concepts in your answer to explain your advice.

BUSINESS LAW