Contract law of the people's Republic of China
Article 210 A loan contract between natural persons shall take effect when the lender provides the loan.
Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases
Article 9 Under any of the following circumstances, it can be regarded as having the effective requirements for a loan contract between natural persons as stipulated in Article 210 of the Contract Law:
(1) Pay in cash from the date when the borrower receives the loan;
(2) If the payment is made by bank transfer, online electronic remittance or online loan platform, it shall start from the date when the funds reach the borrower's account;
(3) If the bill is delivered, it shall be from the date when the borrower obtains the bill right according to law;
(4) When the lender authorizes the borrower to control a specific fund account, the borrower obtains actual control over the account;
(5) The lender provides the loan in other ways agreed with the borrower and actually performs it.
Extended data
Private lending contract is invalid:
Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases
Article 14 In any of the following circumstances, the people's court shall deem the private loan contract invalid:
(a) to obtain credit funds from financial institutions and lend them to borrowers at high interest rates, and the borrowers knew or should have known in advance;
(2) The borrower knows or should know in advance that the funds obtained by borrowing from other enterprises or raising funds from employees of the unit are lent to the borrower for profit;
(3) The lender knows in advance or should know that the borrower is still providing loans for illegal and criminal activities;
(4) Violating public order and good customs;
(five) other violations of the mandatory provisions of laws and administrative regulations.