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It depends on the contract
If you are borrowing from a bank or other valid institution I will guaranty the contract will be valid and enforceable.
If you are borrowing from your local loan shark, the "contract" may not be valid, but do you want to take the chance?
Wiki User
∙ 12y ago
Wiki User
∙ 12y agono wee man it is no a valid contract, as the person(s) lending the money arent licensed and this is seen by law as an illegal agreement or Pacta Illicita as the children of God call it.
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What is valid contarct?
A valid contract is an agreement enforceable by law. A Valid Contract is defined under Sec 2(h) of the Indian Contract Act, of 1872. To know the essential features of forming a valid contract, please refer to Desire 4 Legal Knowledge
Will the bank lend money to a child?
No. Loans and Lending facilities are limited to only adult customers of a bank who are employed or in a business and have a monthly earning capacity. Children are not valid customers for a bank from the lending point of view
What are the examples of essentialia of a contract?
valid contract
Is there much money to be made in hard money lending?
You can make a profit in lending money. Success depends on who you lend to.
If an item line of a contract is changed and not initialed by both party's is it still a valid contract?
No. It is no longer valid.
What is the practice of lending money for interest?
the practice of lending money is the practice of your moms vagina
How can misrepresentation affect a valid contract?
When someone is induced into entering into a contract as a result of a false statement.
Explain the elements of a valid contract?
Valid elements of a contract include both parties signatures. A contract must also include both parties agreeing on the terms of the contract.
What is the purpose of money lending?
The role of lending money is to help developing countries,in order to get job done
What is inter bank lending?
Banks lending money to other banks.
If the signatories to a contract change is the original contract still valid?
The contract technically isn't valid if the name has changed. You should resign a contract if you would like to continue the business relationship.
Can a private citizen sue for lending you money?
No, you can not sue somebody for lending you money. You can sue somebody if you have lent them money and they failed to pay it back.
