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hi I have loaned some money to a friend for a number of years now and in total I have given them approximately £50,000.00. I decided that I should enter into some sort of agreement whereby the debt is in writing. However I was reading up on this and read somewhere that past consideration is no consideration. As the amount I have lent him is in the past, can I now get him to enter into a loan agreement. He is more than happy to enter into the agreement. Also I was reading somewhere that I can bypass this no consideration rule if the agreement is entered into a deed. So if I was to draft it with it being a deed, would that then be okay?