Are online loan contracts and IOUs valid?
Online loan contracts are valid once signed and are protected by law. Online loan contracts are electronic contracts and have special e-commerce regulations. Protected by law. Conditions for applying for loan business: natural persons between 18 and 65 years old; the borrower's actual age plus the loan application period should not exceed 70 years old; have a stable career, stable income, and the ability to repay the principal and interest of the loan on time; good credit, no bad delinquencies Records, loan purpose is legal; other conditions specified by the bank.
Is the personal online loan contract legally binding?
The online loan contract established in accordance with the law is valid. Civil legal acts are valid if they meet the following conditions: (1) The actor has the corresponding capacity for civil conduct; (2) The meaning is true; (3) It does not violate the mandatory provisions of laws and administrative regulations, and does not violate public order and good customs. Article 153 Civil legal acts that violate the mandatory provisions of laws and administrative regulations are invalid. However, mandatory provisions do not invalidate civil legal acts except those. Civil legal actions that violate public order and good customs are invalid. Article 668 of the "People's Liberation Army and Civil Code" of the People's Republic of China shall be in written form, unless otherwise agreed on the loan between natural persons. The content of a loan contract generally includes terms such as loan type, currency, purpose, amount, interest rate, term and repayment method. Article 667 of the "People's Republic of China and Civil Code" A loan contract is a contract in which the borrower borrows money from the lender and returns the loan and pays interest when due.
Is the education loan contract valid?
If an educational institution commits fraud or uses legal forms to cover up illegal purposes, it is illegal, and it can claim that the loan contract is invalid through litigation. In order to recruit students, some education and training institutions use deception, inducement, etc. to "fool" students who cannot afford to pay tuition fees to pay tuition fees in installments. In fact, they apply for loans on financial platforms for registered students, and many students suffer from this. various levels of debt. Once a refund is made, it will also be generated with the financial institution. Before signing a training contract, you must read the terms of the agreement clearly and keep the contract, invoice and other evidence for later preparation.
Definition of installment loan:
An installment loan is a loan that the bank agrees to be repaid by the borrower in installments over a certain period of time. When a bank issues this kind of loan, it must investigate the borrower's financial status and repayment ability. At the same time, the loan contract must determine the installment time, the amount of each installment, and the calculation of interest. For borrowers, this method not only meets a large capital need at one time, but also reduces the interest burden from amortization. For banks, it not only provides loans and increases profits, but also accelerates loan turnover from amortization and reduces risks.
Definition of online loans:
Online loans are also becoming a trend. With the advantage of the Internet, you can complete all steps of loan application without leaving home, including understanding various The application conditions for similar loans, preparation of application materials, and submission of loan applications can all be completed efficiently on the Internet.
The risks of online loans are as follows:
1. The virtual nature of online transactions makes it impossible to verify the credit status of both borrowers and lenders, which can easily lead to fraud and non-payment of debts.
2. Among the large amounts of lender information released by online platforms, many of them issue loans in the names of "loan companies", "financing companies", etc. In fact, only financial institutions approved by the state can engage in financial services such as credit financing. Those who engage in financial activities without authorization are often held legally responsible for "illegal fundraising", "illegal attraction of public deposits" and disrupting financial management order. .
3. If loans are issued through an online platform, if the online platform neglects self-discipline, or the internal control procedures fail, or is exploited by others, it may be possible to fabricate loan information and illegally raise funds. .
Are electronic contracts for online loans valid? You’ll know after reading it!
Nowadays, many young people are accustomed to excessive consumption and apply for loans online. The development of the Internet has also provided a lot of convenience. You can easily apply for a loan with a mobile phone. We know that a loan contract must be signed, but is the electronic contract for online loans valid? Are you protected by law as a borrower? Let’s find out together.
Are electronic contracts for online loans valid?
It is valid, but there are prerequisites. Not all electronic contracts are protected by law.
1. Lending institutions
According to current regulations, only licensed institutions can engage in lending business. If the lending institution itself does not have legal operating qualifications, then the legality of its business If you want to make a big discount, you may encounter some problems, so before applying for a loan, you must keep your eyes open and choose a regular financial lending institution.
2. "Electronic Signature Law"
Some contracts require online signing, while others do not. You must ensure that it is signed by yourself, and that the electronic signature has not been tampered with. A legal CA must be used. The digital certificate (reliable electronic signature) provided to sign electronic contracts cannot be identified by ordinary borrowers, which has led to illegal operations by many institutions.
3. Third-party platform
Electronic contracts must be signed through a third-party signing platform to ensure the fairness of the electronic contract signing process and the validity of the results. The Ministry of Commerce of the People's Republic of my country pointed out in the "Process Specifications for Online Formulation of Electronic Contracts": "Only through the conclusion of an electronic contract in the electronic contract conclusion system of a third party (electronic contract service provider) can the fairness of the process and the effectiveness of the results be guaranteed."
Will the contract be effective if the online loan contract is signed but no loan is disbursed?
The validity of the contract will not be affected if the online loan contract is signed but no loan is disbursed. The loan contract is established after being signed and confirmed by both parties. A contract established in accordance with the law is legally binding. If the lender fails to lend money according to the time stipulated in the loan contract, it is a breach of contract. As a borrower, the lender can require the lender to pay the loan as stipulated in the loan contract, otherwise it will bear liability for breach of contract.
For online loans, it said that the bank card was filled in incorrectly and the funds were frozen. The contract has been signed. Is this contract valid?
This is a very common routine loan. If you fill in the wrong bank card, let me tell you, even if you check the numbers one by one, it will show that you have filled in the wrong one, because the other party's system has changed it for you! What about freezing funds? It’s just to scare you and ask you for money! If you even believe this, then you might as well just give your savings to a dog loan company!
Contracts signed online can be valid, but the loan contract is a performance contract. If the other party does not lend money according to the contract, it means that the other party has not fulfilled the agreement, and you do not need to pay any deposit or unfreeze fee. As a result of you paying the deposit and unfreezing deposit, either the other party will disappear and your money will be stolen; or the other party will continue to ask you to pay money, and you will not borrow a penny, and you will have to pay the other party one after another first. If you don't pay back the money by then, the other party will charge liquidated damages, and they usually use collection methods to explode your address book. There's nothing you can do about it until you and your family's phone numbers are ringing. Those collection agencies will blow up your address book, call and send messages to all your phone contacts, telling them that you owe debts and will not repay them, and even disturb your contacts and ask them to call you to ask what's going on. Putting pressure on you, it will be difficult for you to solve this kind of thing other than paying back the money.
So, don’t believe at all that “the bank card was filled in incorrectly and the funds were frozen.” If you can’t even see this low-level lie, then it’s up to you. If the other party does not actually lend money, any contract will be invalid. Try not to touch online loans, they are all pitfalls.