A loan agreement must clearly set out the repayment terms — including the amount, interest…

The Dangers of Poorly Drafted Agreements
Contracts should leave no room for confusion. If the terms are vague or important details are missing, it can lead to disputes about what was actually agreed. Courts may even find such contracts unenforceable. To avoid problems:
- Clearly outline the rights and obligations of each party;
- Include deadlines, payment terms, and remedies;
- Put everything in writing and get it signed.
A well-drafted contract protects both sides and reduces the risk of future conflict.
