About a yr ago I picked up this bike from a buddy of mine as a starter bike. It was his starter bike as well, he went to upgrade to a bigger bike. He sold it to me as a reduce price b/c we're really close friends. So in march, I had a accident on the bike (not my foult, got rear end), but I took the time to shop for parts and got mechanic to fix it. I sold it recently, the offer came in higher than the price buddy sold me a yr ago (remind you guys that its a 1981 bike, and buddy didn't take care of it). So I made a profit off it.
Now, buddy is piss off at me b/c, 1) I didn't get his permission to sell the bike, and 2) he believes that I indirectly use our friendship to profit (word for word from him).
now, i'm confuss, even though he sold it to me at a reduce price, I still had to pay for it. doesn't that count as a business transaction. I mean its my property I don't need permission to do anythin with it. And I don't believe I even intent, directly or indirectly to profit off our friendship.
any input from you guys would be really great