Unlike banks and credit companies, when people lend money to their friends, colleagues and relatives, they do not sign a legal or credit agreement with them. This is not necessary if you are dealing with a close friend or family and believing that he will return the debt on time, as he agreed. But just to be sure, you should ask them to sign a confirmation of guilt and state in the letter that they actually lent the money for a certain period of time and that they will return it to you during the aforementioned period. 9 And I/We continue to confirm that this ADMISSION of debt is to be treated for such purposes as a liquid document. Page 2 of 3 dated. It`s the day of. 201_ 1. ______ (Signature of creditor) ______ (Full name of creditor) CREDITOR 1. ______ (Signature of the debtor) 2. _____ [Full name(s) of the debtor as a witness:As a witness: 1. ______2. ____ Please start all pages except this one.
PandaTip: In other words, this agreement is now the debt control agreement and, in any case, the terms of this agreement differ from all the others that have been signed previously, the terms of this agreement are the ones that are used. 6 page 2 of 3 3. I/We agree with the jurisdiction of the Magistrate`s Court within the meaning of section 45 of Act No. 32 of 1944, as amended, for all purposes for this admission of guilt, but we confirm that this does not prevent the creditor from initiating proceedings against me/us from another competent court; 4. I/We confirm that no act of relaxation, leniency or pardon on the part of the creditor can be considered in any way as a waiver by the creditor of any of his rights in the sense of such recognition of the debt or novation thereof; 5. Page 1 of 3 RECOGNITION OF THE RECOGNITION OF GUILT Admission of guiltY Admission of guilt I/We, the undersigned, the name of the debtor, the address of the debtor (hereinafter referred to as the debtor) hereby acknowledge that I/we are genuinely indebted to and for the benefit of the name of the creditor, the address of the creditor (hereinafter referred to as the creditor), his assigns or assignees in the amount of R 337 (three hundred and twenty-seven thousand) four hundred and thirty-quat re rands forty cents( hereinafter referred to as the principal), the agreed debt being due, due and payable, which the debtor owes, owes and owes to the creditor in respect of the goods and/or services sold and delivered and/or the services provided and/or provided by the creditor to the 2 1 amounts borrowed. We expressly acknowledge and confirm: a) that all prior agreements, whether oral or written, entered into between the debtor and the creditor, have been renewed by this ACKNOWLEDGEMENT of the debt which, together with these other security rights in support of this agreement that I/we may sign, is the only documentation and exclusive proving my overall liability in favour of the creditor, provided that, if there are no other documents that I/we have signed.. .