In Kam Seng Realty Sdn Bhd v. Dato Tai Fatt Yew – Anor [2012] 7 MLJ 825 (HC), it was found that in the absence of a correct repayment period, the 6 years from the date of the loan settlement are in progress. Before signing the loan agreement, there are various things that both parties must consider, such as: If the deadline is short, you have repeatedly asked the borrower to repay the loan amount, but without success. Both relationships become furious. What rights and remedies could you use under the law? Sometimes borrowers cannot repay the amount borrowed. The borrower may be difficult and uncooperative, or the borrower simply has no money to repay the loan. Lenders can avoid these frustrations by ensuring that the borrower agrees to provide guarantees in exchange for the loan. The types of securities described below are personal guarantees, land and shares. How can I make sure my loan is not granted as a business? In addition, as a lender, you have the right to deposit an unqualified security holder on the borrower`s property. Link Holder The reserve is a legal guarantee by the lender, by which the exit document was deposited on a country as collateral for a loan. It is in effect with the registration in question and applies until it is completed or the lender has obtained a court decision on the sale of the property (Article 330, paragraph 5, of the National Basic Code 1965). In the Federal Court of Justice in Yam Kong Seng – Anor v.

Yee Weng Kai [2014] 6 CLJ 285 (FC), a text message was admitted as evidence that the defendant received money from the applicant for the purpose of a loan. The repayment plan provides information on how interest on the loan is calculated. The lender could calculate simple interest on the loan, or he or she would calculate compound interest. With respect to compound interest, interest is calculated on the amount of capital plus the amount of interest that goes to the borrower, which hits the borrower quite strongly and makes a person with a huge debt. Now, there are many different types of credit contract forms, and the content of each credit contract model differs from case to case. To keep things simple, we consider the model for personal credit agreements, which is the most common application case for a credit contract form and something that can be used if the loan comes from one individual to another person.