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Buachaill, Barrister
Category: Law
Satisfied Customers: 10113
Experience:  Barrister 17 years experience
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I have loaned money to my friend's business. I would

Resolved Question:

Hi. I have loaned money to my friend's business. I would like to protect my interests via a loan agreement and deed of trust but don't know the best route to take. Can you advise?
Submitted: 1 year ago.
Category: Law
Expert:  Buachaill replied 1 year ago.
1. Here is a link to a customisable Loan Agreement which will include you taking some form of security for the monies advanced. Be aware that a deed of trust is effected by the taking of security over some asset belonging to your friend. You can essentially "create" your own loan agreement.
Customer: replied 1 year ago.

Thank you. Having now created the loan agreement, I need to know how to back date it, as the monies were transferred in 2012. Obviously, the document needs to be signed as at today's date, but referenced to a loan starting in 2012. How should I amend the doc? (doc inserted below)


THIS LOAN AGREEMENT (this "Agreement") dated this 17th day of September, 2015


Andrew Mathews of 5b Old Park Ridings
(the "Lender")



Mario Bedevinos of***** London, N8 7QB
(the "Borrower")


IN CONSIDERATION OF the Lender loaning certain monies (the "Loan") to the Borrower, and the Borrower repaying the Loan to the Lender, both parties agree to keep, perform and fulfil the promises and conditions set out in this Agreement:

  1. Loan Amount & Interest

  2. The Lender promises to loan one hundred fifteen thousand (£115,000.00) GBP, to the Borrower and the Borrower promises to repay this principal amount to the Lender, at such address as may be provided in writing, with interest payable on the unpaid principal at the rate of 13.0 percent per annum, calculated yearly, not in advance.


  3. This Loan will be repaid in consecutive monthly instalments of £208.00 each on the first of each month commencing the month following execution of this Agreement until the Lender has provided the Borrower with written notice of demand and the balance owing under this Agreement will be paid within 30 day(s) of any such notice of demand.

  4. At any time while not in default under this Agreement, the Borrower may pay the outstanding balance then owing under this Agreement to the Lender without further bonus or penalty.


  5. Notwithstanding anything to the contrary in this Agreement, if the Borrower defaults in the performance of any obligation under this Agreement, then the Lender may declare the principal amount owing and interest due under this Agreement at that time to be immediately due and payable.

    Governing Law

  6. This Agreement will be construed in accordance with and governed by the laws of the Country of England.


  7. All costs, expenses and expenditures including, without limitation, the complete legal costs incurred by enforcing this Agreement as a result of any default by the Borrower, will be added to the principal then outstanding and will immediately be paid by the Borrower.

    Binding Effect

  8. This Agreement will pass to the benefit of and be binding upon the respective heirs, executors, administrators, successors and permitted assigns of the Borrower and Lender. The Borrower waives presentment for payment, notice of non-payment, protest, and notice of protest.


  9. This Agreement may only be amended or modified by a written instrument executed by both the Borrower and the Lender.


  10. The clauses and paragraphs contained in this Agreement are intended to be read and construed independently of each other. If any term, covenant, condition or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the parties' intent that such provision be reduced in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Agreement will in no way be affected, impaired or invalidated as a result.

    General Provisions

  11. Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement. Words in the singular mean and include the plural and vice versa. Words in the masculine mean and include the feminine and vice versa.

    Entire Agreement

  12. This Agreement constitutes the entire agreement between the parties and there are no further items or provisions, either oral or otherwise.

IN WITNESS WHEREOF, the parties have duly affixed their signatures on this 17th day of September, 2015.

SIGNED, SEALED, AND DELIVERED in the presence of:



Andrew Mathews

SIGNED, SEALED, AND DELIVERED in the presence of:



Mario Bedevinos


Expert:  Buachaill replied 1 year ago.
2. Dear *****, you should amend Clause 2 with it beginning. "The lender did on (insert date) lend the sum of one hundred...". Additionally, at the recital beginning "IN CONSIDERATION OF the lender having loaned certain monies...", you should amend it with the underlined words. It is merely to reflect that the loan monies had been advanced as of the date of the agreement.
Customer: replied 1 year ago.


So if the monies have been loaned as at a past date, what date should be inserted at the very top of the doc? I presume that the date at the end ought be the actual date of signing? In terms of witnessing the agreement, does it matter if any lay person signs as opposed to a Notary or Solicitor?

Expert:  Buachaill replied 1 year ago.
3. Dear *****, you have the date correct at the top, namely the date the agreement is signed. Not the date the monies were originally advanced. Secondly, you only need sign the agreement, both of you for it to be valid. You can get someone to witness it but this is not necessary in point of law. However, it may help if a case ever goes to court as you will then have an independent party who can swear to the existence of the agreement. The party witnessing it does not have to be a solicitor or notary public.
Expert:  Buachaill replied 1 year ago.
4. Dear *****, please RATE, the Answer as otherwise your Expert does not get paid part of the monies deposited with the website by you.
Buachaill, Barrister
Category: Law
Satisfied Customers: 10113
Experience: Barrister 17 years experience
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