How to write Lone (borrower money) Agreement between friends or faimaly members

Lone Agreement

How to Lone Agreement

This Loan Agreement (from now on referred to as the ‘ Agreement ) is made on this………………………. day of October 2024. https://highlawgroup.in

BETWEEN

Mr. …………………………………… .., aged about ………………. . years, son of…………………… resident of village ………………. PO / PS- State …………….. ( which Expression unless village .. repugnant to the context shall include his / her heir, representatives, executors, administrators, successors, assignees etc. ) hereinafter called the ” LENDER ” of the FIRST PART.

And

Second Party Name ………………… …… aged about…………….. resident of Village….. … ….. years, son of……………… PO / PS ……………….. .. ( which Expression unless repugnant to the context shall include State ………………. his / her heir, representatives, executors, administrators, successors, assignees etc. ) after this called the ” BORROWER ” of the SECOND PART.

AND WHEREAS the BORROWER needing money for his family/business / personal expenses had requested the LEN DER to lend him a sum of Rs . 3,00,000 / – ( Rupees Three Lakhs ) only for 1 ( one ) month ( i.e 05-10-2024 to 05-12-2024 ). If the borrower fails to repay the amount within the stipulated period, then the borrower has to pay 10 % interest to the Lender / First Part.

( Mr. ……………….)                                                                                                                   ( Mr. ……………….. )

( LENDER)                                                                                                                                ( BORROWER )                                                                                                                                                                                          WITNESSES :

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