How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Ash Your Own Question

Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
75100385
Type Your Law Question Here...
Ash is online now

I am lending somebody some money and they have sent a letter

Resolved Question:

I am lending somebody some money and they have sent a letter to confirm that they are receiving this money and that they will repay the loan within 60 banking days. Could you check the wording before I sign it please?
Submitted: 5 months ago.
Category: Law
Expert:  Ash replied 5 months ago.

Hello my name is ***** ***** I will help you with this.

How many pages is the document?

Customer: replied 5 months ago.
two, in the form of a letter
Customer: replied 5 months ago.
Did you get my reply?
Expert:  Ash replied 5 months ago.

Ok, if they are short it will be a slight additional cost.

Customer: replied 5 months ago.
I have already paid the £34 and have had confirmation e-mail.
Expert:  Ash replied 5 months ago.

Yes that is to ask a question. If you would like additional work done (which is what review of documents are, or a telephone call for example) it is an extra cost

Customer: replied 5 months ago.
In that case, I think I will have to ask for my money back. If I had realised that my first approach was a "question", I would have worded it differently. How do I go about getting the money refunded please? Regards, Judith
Expert:  Ash replied 5 months ago.

How long are the two pages?

Customer: replied 5 months ago.
Terms:The loan will be paid back in full within 60 banking days from receipt of funds. It is the intention of the borrowers to pay the amount back as soon as they have available funds but note a 60 banking day period for the purposes of this loan agreement.
Repayment of the total amount of £ will be made to the bank coordinates provided by the Lender (insert banking details). The amount will be paid back with any costs associated with the issuance of said funds (please note the costs).In the event of accident or death of the Lender, the borrowers will nevertheless be obliged to deposit the borrowed funds to the coordinates provided, with costs, in favour of the Lender’s estate.Signed, [to be signed by all three parties to agreement]
Expert:  Ash replied 5 months ago.

Is there a clarification of what banking days are? Do you mean working days?

Customer: replied 5 months ago.
I would imagine so. I can change this if necessary.
Expert:  Ash replied 5 months ago.

Yes I would change this to working days.

It does not say what happens if its not repaid, a payment missed or if one party wants to terminate the agreement.

You should also specify which country laws apply to the contract, ie England and Wales.
Save for that it is fine.

Can I clarify anything for you about this today please?

Customer: replied 5 months ago.
I will change the wording. If the loan is not repaid, I will stand little chance of getting it back, but as it is family I am prepared to take that risk. The law is a bit of a grey area. The borrowers are resident in the Republic of Eire. Would this have any substantial impact on the agreement?
Expert:  Ash replied 5 months ago.

No, you could still enforce there but I would still put the laws of England and Wales apply.

Does that clarify?

Customer: replied 5 months ago.
Could you give me a form of words to insert this condition please?
Expert:  Ash replied 5 months ago.

Just that - this agreement is governed by the laws of England and Wales and both parties shall submit to its exclusive jurisdiction

Does that clarify?

Customer: replied 5 months ago.
Wonderful! Thank you so much for your help.
Expert:  Ash replied 5 months ago.

If this answers your question could I invite you to rate my answer before you go today, otherwise the site doesn’t pay me for the time spent with you. Thanks in advance and good luck.

Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience: Solicitor with 5+ years experience
Ash and other Law Specialists are ready to help you
Customer: replied 5 months ago.
excellent!
Expert:  Ash replied 5 months ago.

Thanks.

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Previous | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice