Current Aspects of Theory and Practice under the Loan Agreement

The article reveals important, relevant theoretical and practical legal aspects of the loan agreement. A loan agreement is necessary before lending or borrowing money. The loan agreement details how much money has been loaned and the date by which the borrower must pay back the loaned amount. The loan agreement contains specific terms that mention the amount of money the borrower is required to pay back for the loạn amount. Once the loan agreement is signed, the borrower is obliged to pay the lender the borrowed sum. The loan agreement also prevents illegal or excessive repayment of interest on the money borrowed thus safeguarding the borrower's rights. The loan agreement helps to safeguard the rights of both parties. A loan agreement assures the lender a guaranteed payback whereas it assures the borrower that no hidden charges or extra interest amount is levied on the borrowed amount. The loan agreement allows both parties to take legal steps in case of any discrepancy.

It is a legal document that is used as proof that the goods or the service rendered to the borrower is not a gift and must be repaid within the due date. Even if you are borrowing money from informal sources like friends or family, it is important to have a loan agreement to safeguard your rights and your valuable relationships. It is always better to draft a loan agreement to stay on the safer side while lending or borrowing money. It is worth your time as it can save you from any discrepancies later on.

 Namely, the key legal positions set forth in judicial practice in resolving disputes arising from loan relationships are analyzed. The documentary confirmation of the conclusion of the loan agreement is considered, the legal status of the receipt and its value in the loan relations are determined. Namely, as written proof of concluding an agreement and obtaining a loan under the obligation to repay it. The possibility of lending money on the territory of Ukraine in both national currency - hryvnia and foreign currency has been confirmed. The term as a condition of the contract and its significance for the fulfillment of the obligation to return it are studied. The peculiarities of a loan in a marital relationship are revealed in detail.