Contract law. Loan agreement (most important)

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Contract law. Loan agreement (most important)

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52. LOAN AGREEMENT

Loan agreement - this is an agreement by virtue of which one party (lender) transfers money or other things defined by generic characteristics to the ownership of the other party (borrower), and the borrower undertakes to return to the lender the same amount of money (loan amount) or an equal number of other things received by him of that of the same kind and quality (clause 1, article 807 of the Civil Code of the Russian Federation). Chapter is devoted to loan obligations. 42 of the Civil Code of the Russian Federation.

A loan agreement differs from a lease agreement in that, under a loan agreement, things are transferred into the ownership of the borrower and not the same, but similar things (of the same kind and quality) are subject to return.

The contract is:

1) real;

2) paid;

3) gratuitous - between citizens in the amount of less than 50 minimum wages, the contract is not related to the entrepreneurial activities of the parties, and also when the subject is things defined by generic characteristics;

4) unilaterally binding.

subject of a contract - money or things defined by generic characteristics, as a rule, consumed.

Parties to the contract - the lender and the borrower, which can be any subjects of civil law, taking into account their legal capacity.

Contract form:

a) oral;

b) written (if the amount of the transaction exceeds 10 minimum wages, and with the participation of a legal entity on the side of the lender - regardless of the amount).

In confirmation of the loan agreement, a borrower's receipt or other document certifying the transfer of a sum of money or things may be presented. Failure to comply with the written form of the loan agreement does not entail its invalidity, but deprives the parties in the event of a dispute to refer to witness testimony.

The loan may be in the form of a bond.

Bond - issuance security, certifying the right of its holder to receive from the person who issued the bond, within the period stipulated by it, the nominal value of the bond or other property equivalent, as well as the right to receive a percentage of the nominal value of the bond fixed in it, or other property rights.

Rights and obligations of the parties.

The fundamental obligation of the borrower is to return to the lender the received loan amount on time and in the manner prescribed by the agreement.

This obligation is present in both paid and gratuitous loan agreements. Under a reimbursable loan agreement, the borrower is obliged to pay interest to the lender for the use of the loan amount. Under a target loan agreement, which is concluded with the condition that the borrower uses the funds received for certain purposes, the borrower is obliged to provide the lender with the opportunity to exercise control over the intended use of the loan amount.

Author: Rezepova V.E.

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