answered on 26/09/2017
It depends on the promise you have made with your friend. If the promise is such that he is required to pay you the loss, you may be able to recover. However, from practical point of view, it would be difficult to recover if there is no written agreement which could have provided solutions to the possible loss made by you friend. Also, if the amount of loss is not too big, legal fee could be higher than the amount.