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Unsecured money loans - Unsecured money loans are usually smaller money loans (micro-loans) re-payable in installments, where the lender is given no security for re-payment of the debt. Micro lending as a category of the NCR usually speaks to credit providers that can borrow a maximum amount of R8 000 for a period of up to 6 months.
Loan agreements are documented via their commitment letters, agreements that reflect the understandings reached between the involved parties, a promissory note, and a collateral agreement (such as a mortgage or a personal guarantee). Standardized templates for loan agreements can assist in ensuring all critical terms and clauses are included. [4]
The South African law of sale is an area of the legal system in that country that describes rules applicable to a contract of sale (or, to be more specific, purchase and sale, or emptio venditio), generally described as a contract whereby one person agrees to deliver to another the free possession of a thing in return for a price in money.
Even if everything seems straightforward, consider reaching out to a real estate lawyer who can help you produce a legal contract to ensure the deal runs smoothly and everyone involved knows how ...
A contract in South Africa is classified as an obligationary agreement—it creates enforceable obligations—and ought therefore to be distinguished from liberatory agreements (whereby obligations are discharged or extinguished; e.g. release, novation), real agreements (whereby rights are transferred; e.g. cession, conveyance), and family law ...
A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
The recipient, or borrower, incurs a debt and is usually required to pay interest for the use of the money. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date
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