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How to lend money to someone and get it back.?
I want to give a large sum of money to someone but I also want to get it back. What can I do that would stand up in a Cort of law that I can get my money back?
How do I give it? Cash/check or other?
What kind of contract? What should be in it?
Should other legal people be there to agree to the contract?
I want as much info as you can give please.
1 Answer
- tellLv 49 years agoFavorite Answer
The Best way to give it would be a check, although you can do cash.
Write up a promissory note, should look something like this
I (have person you loan money to write name here) have accept the amount of (amount of money loaned) from (your name) I will repay _____ a month until loan is paid in full. (or write whatever your agreement for repayment is) You can also include when it needs to by paid by. Example: will be paid in full by JUNE 01, 2012.
both of you need to print your name and sign underneath your printed name.
Make a copy of the contract for the person you are loaning the money too.
Hope this helps!