Lending money between individuals is a very common civil transaction. When lending money or assets, the parties need to establish a loan contract or loan paper to have a basis for debt collection later. However, because of trust, for example, borrowing money between friends, relatives,... or other reasons, many people can still easily lend each other money without debt papers, just through talking, texting or calling,... Therefore, when a dispute occurs, many people worry about whether they can get their money back if they lend without proof of documents.
Regarding this issue, Article 119 of the 2015 Civil Code stipulates the form of civil transactions: Civil transactions are expressed orally, in writing or by specific acts. Civil transactions via electronic means in the form of data messages as prescribed by the law on electronic transactions are considered written transactions. In cases where the law stipulates that civil transactions must be expressed in notarized, certified or registered documents, such provisions must be complied with.
In addition, Article 463 of the 2015 Civil Code stipulates: A property loan contract is an agreement between the parties, according to which the lender delivers property to the borrower; when the payment is due, the borrower must return to the lender property of the same type in the correct quantity and quality and must only pay interest if there is an agreement or if the law so stipulates.
Accordingly, the law does not have any regulations requiring that when lending money, a debt note must be drawn up and signed. Lending money and borrowing assets according to current regulations can be completely established through words, in writing or through specific actions depending on the agreement of the parties.
Therefore, in the case of lending money without supporting documents such as a loan contract, the transaction is still legally valid if it is concluded by specific actions of the parties.
When a borrower fails to repay the loan amount when due, the lender may take the following measures:
Agree with the borrower on extending the repayment period;
If the two parties cannot reach an agreement, the borrower can file a lawsuit in court. In case the lender does not have documents proving the transaction, it must prove the lending by all means, such as audio or video recordings of the conversation when lending; testimony of witnesses or confirmation from the borrower via email, text messages, other electronic means, etc., to serve as a basis for filing a lawsuit and resolving the dispute before the court.
If the borrower evades the obligation to repay the debt in order to appropriate the property, the lender can report to the police for the crime of Abuse of trust to appropriate property as prescribed in Article 175 of the 2015 Penal Code.
However, in reality, there are many cases where resolving disputes related to lending money without supporting documents is very difficult. Therefore, the lender should establish a written loan contract to have evidence to prove and ensure debt collection later.
Minh Hoa (t/h)
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