Legal analysis: Just because the borrower is not the actual payee does not mean that the loan is invalid. The effectiveness of the contract means that the established contract is legally binding, and whether the contract is effective depends on whether it meets the effective conditions stipulated by law. An iou that meets the following conditions is valid: (1) The actor has corresponding capacity for civil conduct; (2) the meaning is true; (three) does not violate the mandatory provisions of laws and administrative regulations, and does not violate public order and good customs. (4) borrowing. If the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount.

Legal basis: Article 668 of the Civil Law of People's Republic of China (PRC) shall be in written form, unless otherwise agreed between natural persons. The contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method. Article 669 When concluding a loan contract, the borrower shall, at the request of the lender, provide the true information about the business activities and financial status related to the loan.