by LegalBegal » Fri Nov 13, 2009 08:39:34 AM
Because of the electronic documents act, the email will count as a proper signature, unless you can prove that someone hacked your email account and forged out the e-mail contact.
As well, because of the statute of limitations act(Ontario), the acknowledgement in writing would reset the statute, giving your friend 2 years from the date that the email was sent acknowledging that you owed the money. You really dinged your self by stating that you did want to pay it back.
Best advice? Defend the claim based on an inability to pay (are you still out of work or struggling?) and head to settlement conference. Make and arragement there, and follow it. Otherwise, your friend is going to get judgment for whatever it is he is asking for, and be able to enforce either by way of a garnishment or lien.