To all the legal savvy people in the house, Loan contract - Kawasaki ZX-10R.net
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post #1 of 17 Old 04-19-2008, 06:12 PM Thread Starter
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To all the legal savvy people in the house, Loan contract

Hey guys if you were going to loan a friend some cash and that friend agreed to draw up an official contract to protect the both of you, how would you draw it up? Specifically the wording part of it so not to leave the smallest detail out.
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post #2 of 17 Old 04-19-2008, 06:34 PM
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Sad to say my advice is don't loan friends money you keep friends longer this way.
post #3 of 17 Old 04-19-2008, 06:42 PM
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Sad to say my advice is don't loan friends money you keep friends longer this way.
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post #4 of 17 Old 04-19-2008, 07:00 PM
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Better off just give it to him if u can afford it otherwise don't. Maybe take his wife as collateral.
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post #5 of 17 Old 04-19-2008, 07:01 PM
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Sad to say my advice is don't loan friends money you keep friends longer this way.



I'd either give them the money (depending on the amount and not expect to get it back) or not give them any money at all.



Chris

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post #6 of 17 Old 04-19-2008, 07:25 PM
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Quote:
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Hey guys if you were going to loan a friend some cash and that friend agreed to draw up an official contract to protect the both of you, how would you draw it up? Specifically the wording part of it so not to leave the smallest detail out.

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post #7 of 17 Old 04-19-2008, 07:35 PM
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Thumbs down

Dude, the only ding I've ever had on my credit came from cosigning a loan for a friend. Honestly, I have not had good experiences with this and would gift it to your friend. Sure, it's okay if they agree to pay it back, but I'm telling you anything less is likely to cause an issue.

Now, if you are both successful business men then it may not be a big thing.

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post #8 of 17 Old 04-19-2008, 07:41 PM
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nothing good will come of it......take it out in trade....with his hot wife or hot girlfriend......
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post #9 of 17 Old 04-19-2008, 07:49 PM
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Sad to say my advice is don't loan friends money you keep friends longer this way.
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post #10 of 17 Old 04-19-2008, 09:38 PM
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Yup don't do it.

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