How can I create a legally binding loan agreement between the UK and Thailand?

Loan Agreements Legal Advice Thailand-UK Legal Matters Personal Loans Binding Contracts Witness Requirements

Sep 6, 2022

2 years ago

ORIGINAL POSTER

Hi all...

Just wanted some advice on a personal loan situation. Has any one typed up their own loan agreement that's legally binding in both UK - Thailand? If so how many independent witnesses would be required. Obviously I want it to be legally binding in Thai law as much as the UK.

I can't give specific details and it's not possible to get a Thai lawyer to do it.

Any advice much appreciated.

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TLDR : Answer Summary

The user seeks advice on creating a legally binding loan agreement that is enforceable in both the UK and Thailand, emphasizing the need for legal protection, particularly concerning a family member's finances. The conversation includes concerns about the efficacy and enforceability of such a contract without legal counsel, as well as the potential implications of not recovering the loan. Commenters express skepticism about the practicality of writing a contract without legal expertise and the likelihood of repayment.

Филипп **********

Here is advice... Or some advice... Take the amount of loan in cash and give to random stranger on street... And forget about it... Ok

...

2 years ago

Tony *********

ORIGINAL POSTER

Thanks all for your replies.

It's actually to protect my sisters money. I think she will ever see it again and thought something in writing might at least offer some protection.

I am hoping it won't be necessary but from what I have seen concerning the beneficiaries it will never be seen again. Let's put it this way it wouldn't be my money.

2 years ago

Brook ********

@Tony ********

so why can’t you give specific details so you can receive relevant responses?

2 years ago

Tony *********

ORIGINAL POSTER

@Brook *******

- sorry its just a bit personal and difficult but it was partly generic and I got an overwhelming response that the money would most likely never be seen again

2 years ago

Reply to

Tony *********

Nigel ********

Legally binding in both countries..... hmmm... where is the jurisdiction of the contract and does it break any laws?

2 years ago

Brook ********

If you can’t discuss it, especially with a lawyer, a contract probably isn’t enforceable anyway.

Also, legal advice from Facebook is worth what you pay for it.

2 years ago

Russell *******

I think you should also be prepared to lose it

2 years ago

Kool *******

A big determining factor you have to consider is if the person will be able to pay, and what you can get from them if they don't. Most require some kind of collateral, or a co-signer. There are also usary laws about how much interest you can legally charge. If it is a significant amount you should use a lawyer. If it is illegal, as it sounds, attorney/client confidentiality applies.

2 years ago

Reply to

Kool *******

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