Reimbursable Loan Agreement: Fill & Download for Free

I have never met the lawyer but I am going to tell you about a famous case in France.Mr. X goes to his Aunt Mrs. Y and asks for a substantial loan. Mrs.Y agrees and they both sign a loan agreement where Mr.X promises to reimburse his Aunt at the Saint Glinglin.To understand the meaning of this contract, you have to know that in France each day of the calendar is dedicated to a Saint. A Calendar Saint is not necessarily a spiritual leader recognized by the Church but often a spiritual figure who was known for his miracles in the first time of Christianity.Calendrier des Saints et des PrénomsFor instance, August the first is dedicated to both Saint Alphonse and Saint Alphonse-Marie. So, if the money borrowed by Mr. X was to be reimbursed at the Saint Alphonse, it would mean August the 1st.The loan agreement, though not written in the most modern and usual way is perfectly valid. But there is a catch, the Saint Glinglin is nowhere to be found in the Calendar. In French, it is used as a fictitious date in the future that will never be. I will reimburse you at the Saint Glinglin literally means, I will never reimburse you.Going back to our case, Mrs.Y asks many times her nephew for the money she has lent him and of course, the crook does not oblige her. They go in front of a judge but everybody thinks there is no way she can win. Comes her lawyer, a smart man who has thought carefully about the case. He pleads that in the Calendar of the Saints, there is a day named “Toussaint” which translates into “all Saint’day”. It is a day (November 1 st) where all Saints are celebrated, therefore it is also Saint Glinglin’ day and the nephew should have reimbursed his aunt this day.Mrs. Y won her case.My second case involves another lawyer: my mother. Her client was a wealthy Japanese businessman who had started a joint venture with a French entrepreneur. As a proof of good faith and to show off, he put on the table 1 million dollars without a paper signed. A year later, the joint venture was not producing any fruits and the Japanese man asked his money back. With no paper signed, it was a lost cause because the French businessman was arguing the money was intended to reimburse a gambling debt…With no proof to back up his story, the Japanese Businessman case had little chance to be won. Until my mom stepped in. As a tax specialist, she went to the negotiation table with a big gun. Unless the money was returned, the Japanese businessman would declare to the French IRS that he had given 1 million dollars to the French businessman. The idea of the IRS digging into his businesses combined with the substantial penalty he was facing was enough to convince the French businessman to return the money within two days.

By returning the car to the dealer and failing to make the payments, as stipulated by your loan agreement, you’ve placed yourself in default.What that means is that you have terminated your loan contract early, and by doing so, you’ve caused the car dealership to incur a financial loss. You now have to reimburse them for that loss, which is probably the depreciation on the vehicle.It’s not the car dealership’s fault that you’ve chosen to default on the loan, and they don’t have to accept a financial loss because of your decision. It’s perfectly legal and there is no-doubt language in your loan document, which states what your obligations are.Your choices are to:A - Pay the $3000B - File bankruptcyC - Don’t pay, which will force the dealership to obtain a civil judgment against you in court

No, No, No!There are so many other options.Go to community college for two years, find an employer who reimburses tuition (yes, they still exist), go to an in-state college, go to an online college, work full-time throughout college like I did, or so many other options.No loan agreement because don’t loan the money.