Civil Code (Act No. 89/2012 Coll..) is regulated in § 2390 et seq. loan (previously the term loan was used). A loan agreement is one of the most commonly used contract types.

The contracting parties to this contract are called borrower (i.e. the person to whom the loaned item was left) and lender (i.e. the person who left the object of the loan). The object of the loan is replaceable thing, i.e. a thing that can be replaced by a thing of the same type. The most common objects of loan are money.

Loan agreement requirements

Even though the Civil Code does not stipulate the form of a loan agreement, it is certainly appropriate that it be contract concluded in writingThe contract should contain in particular:

• designation of the contracting parties,
• specification of the item being loaned,
• whether the loan is provided free of charge or not (i.e. in the case of a loan of money, whether interest will be required) and
• loan maturity.

Loan agreement – ​​a real contract

Please note that the loan agreement is a real contract, i.e. the contract is concluded only when the item is handed over (not only based on the agreement of the parties – whether written, oral or implied). So, if the subject of the loan is money, it is the loan agreement is concluded by handing them over to the borrower, whether in cash or by bank transfer to his account.

The question may also be whether it is possible to meet the condition of handover even if the thing or money is passed on (whether in cash or non-cash) to a third person (i.e. not directly to the borrower). According to case law and professional literature, this is possible, so the parties can agree in the loan agreement that the object of the loan will be transferred to a third party.                       

záver

Given that the loan agreement is widely used, in most cases it is only concluded orally or implicitly. I definitely recommend that in order to increase the legal certainty of the parties, the agreement be concluded in writing and contained at least the basic requirements mentioned in the article.    

Source: Leagle.One