How To Create A Faultless Loan Agreement Between Friends?
Friendship turns out to be questionable when it comes to lending and borrowing. You cannot accept mere words of your friend when you are about to lend cash to your friend or family member. Most of the time what you said and did fly away in the wind and only the matter of money stands firm when there arises disputes regarding the borrowed cash. To avoid such unpleasantness, you can protect yourself by creating and signing a promissory note. A promissory note is a record with the terms and conditions pertaining to the loan between you and your friend. Your friendship should not perish before you collect the loan amount. Moreover, you should make it apparent that you have lent cash to your friend and it was not a gift or complement provided to your friend. Be Alert: Never lend cash to a friend even if you have the slightest doubt regarding a prompt repayment. If you wish to help such a friend in crisis, then choose to gift a small amount but do not commit by lending so as to av