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Of course, you would need some legal documents that provide a solid proof the money were fairly lent. The role that the personal loan agreement plays is to ensure the borrower and the lender that they both keep their promises. If a person lends money to another person, the agreement has to be drafted attested by a public officer; moreover, the interest rate has to be negotiated before signing the agreement.
A personal loan agreement has to include full details of the loan and, when it is signed by both parts and attested by a public notary, it becomes perfectly legal. The information that the agreement has to include is: |
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