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This interest then has the nature of capital (ordinary) interest and constitutes remuneration for using someone else's capital. Art. applies to them. 359 of the Civil Code, which in § 1 states that interest on a sum of money is due only if it results from a legal act or from a statute, from a court decision or from a decision of another competent authority [ cf. judgment of the Supreme Court of January 25, 2023, ref. no. act II NSNc 146/23]. The most important elements of the contract include.
Page designation; specifying the amount of money or things marked by type; a commitment to transfer them; terms philippines photo editor of termination of the contract; loan repayment security; obligation to return the loan. If in connection with the conclusion of the contract referred to in Art. 720(2) § 1, the borrower undertakes to provide security for the repayment of the loan, this obligation should be specified in the contract. In such a case, the contract specifies the method of security and, depending on the circumstances.
The item or property right that is the subject of the security and its value or the security amount specified in another way [cf. Art. 720(3) § 1 of the Civil Code]. IMPORTANT if the loan repayment date is not specified, the debtor is obliged to return the loan within six weeks after termination by the lender. The borrower's claim for the delivery of the loan item expires after six months from the date the item was to be released.
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