Installment Loan Contract For Friends In Bexar
Category:
State:
Multi-State
County:
Bexar
Control #:
US-002WG
Format:
Word;
Rich Text
Instant download
Description
The Installment Loan Contract for Friends in Bexar outlines the terms of a loan agreement between individuals, focusing on key features such as the purchase price, interest rate, payment terms, and late fees. It specifies that payments are to be made in equal monthly installments, with provisions for late fees if payments are not received on time. This form includes a purchase money security interest clause, ensuring the seller maintains a claim to the collateral until the loan is repaid. In case of default, the seller has the right to accelerate the loan and recover costs associated with collection. The contract also includes a disclaimer of warranties from the seller, affirms that it constitutes the complete agreement between parties, and states the governing law for interpretation. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants in Bexar, as it provides a straightforward template for personal loans among friends while emphasizing important legal protections. Users can easily fill and edit this template to reflect their specific terms, making it an effective tool for informal financial agreements.
Free preview
Form popularity
FAQ
The proposal should include: The amount to be borrowed (principal). Interest rate (You should offer, even if they're likely to decline. For a long-term repayment, 2% to 4% is reasonable.)
