tupacboy1

Hi Guys,

I need to loan my sister about 15000 for her business adventure.

But I still want a loan agreement. I do not want a lawyer involved.

Does anyone have a agreement I can use that will hold in court (I hope it never comes to this) in cali?

Thanks.

moeronn

You may be able to find a generic form at stationary stores - i.e. Staples, Office Depot, etc. - as they generally carry all kinds of blank legal documents. I picked up a quit claim deed form a Hallmark store, but the other stores are probably a safer bet.

On a side note, I would make sure that your sister has a pretty solid business plan and this will be a serious "venture" rather than an expensive "adventure" before loaning that kind of money. Also, don't lend her the money if you need this money. I'm sure you want it back, but if your future retirement plans are counting on this money, you may want to reconsider.

Will Y.

Try searching for "legal forms free" on the internet-- there are several sites with various forms. Your best bet is probably a promissory note; you should get a lawyer if you want it to be secured by goods or receivables.

There is no guarantee that any agreement will hold up in court, but written ones with specific terms generally have a better chance than verbal ones or general written agreements without specific terms.

And moeronn is right-- loan her the money only if you can live with losing it.

MR1

I would search 'California Promissory Note'. This after the above cautions. Also need to decide/discuss if you are active/inactive/silent partner or hands off investor.

Danger Will Robinson, Danger

Good Luck

DAROCK

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