A: What you are describing certainly sounds like a demand letter. A demand letter is simply a demand for payment of money or damages you are claimed to owe in exchange for avoiding legal action. I strongly recommend you consult with an experienced GA litigation attorney, such as myself, before deciding on your next steps.
A: It is always beneficial for a demand letter to include the supporting evidence. Your response should likewise including supporting evidence in an effort to defend against the claims. I strongly suggest you consult with an experienced GA litigation attorney, such as myself, before deciding on your next steps.
A: No, a demand letter is not necessary before filing suit, but a demand letter sent by an attorney can carry more weight and be more effective than one you send on your own. I suggest you consult with an experienced Georgia litigation attorney, such as myself, to discuss your specific situation before deciding on your next steps.
A: Technically, the demand letter has no legal impact. It simply represents an offer to resolve a dispute via an out-of-court settlement under the threat of litigation. In your case, it appears from your description that your former business partner has demanded that you pay the disputed amount by a certain date or else s/he will commence a lawsuit against you. It is, of course, possible that even if you do not pay the amount demanded, your former business partner would decide not to pursue the lawsuit--in other words, it could be a bluff. However, if you call the bluff and ignore the letter, and your former business partner sues you, it could become a much more expensive problem for you. I would therefore strongly recommend that you retain an attorney to advise you and respond to the letter.