Collateral Loan Agreement Template

Collateral loan agreement template – Can the free legal documents offered on the Net be a replacement for consulting with an attorney?

In some instances, most definitely.

To provide a simple example: The law in your state may require a written contract for the sale of goods over a certain value. Or for that matter, you may want to give your parent a power of attorney to sell something on your behalf whilst away on vacation. It does not need specialized legal knowledge to compile a bill of sale for a motorcycle, automobile or other goods or to draw up a limited power of attorney.

Likewise, a young person without a lot of assets might want to draft a last will and testament or a living will. For most young people a conventional legal template can be used to create their files and the forms can be downloaded free from the Internet, without incurring legal costs. Of course, it’ll be a different case for a billionaire with several assets and a complex will where consultation with a legal and/or financial expert is priceless.

Many parents recognize the need for a medical consent form for a babysitter in the event of a medical emergency. Or they may require a broader temporary guardianship form when their child will be staying with a relative or trusted friend. These sample forms are freely available online.

Free legal documents are particularly valuable when they’re also accompanied by legal guidelines on how best to complete them.

Even though the law recognizes oral agreements, it always makes sense to get it in writing to avoid arguments over what exactly was agreed upon. Applying sample legal documents to compile your own contracts is not any different to lawyers using their existing templates for standard agreements.

Of course there are several instances where you must check with a lawyer. Again, you can use the free legal files and free legal information available on the world wide web to do your preparation ahead and so reduce the consulting period – and hours charged. Please check out our collateral loan agreement template on the attachment page.

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *