QUESTION
If there is no signed note for a loan does the loan exist?
Asked on Jan 18th, 2013 on Collections - Texas
More details to this question:
Does the transfer of money from one account to another constitue a loan. If no note exists and there was money transfered electronically from one account to another intrabank, can this be constued as a loan?
1 ANSWER
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Depends on who did the transfer, for what reason, and how much. To many loose ends. Then it is still a question of fact, unless under five hundred dollars. If over $500.00 really need papers.
Answered on Jan 18th, 2013 at 5:32 PM