Legal contract template for borrowing money – Can the free legal documents provided on the Internet 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 choose to grant your parent a power of attorney to sell something on your behalf whilst away on vacation. It does not require 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 may want to draft a final will and testament or a living will. For many young people a standard legal template can be used to make their files and the forms can be downloaded free from the web, without incurring legal costs. Of course, it’ll be a different case for a billionaire with various assets and a complicated will where consultation with a legal or financial expert is priceless.
Many parents recognize the need for a medical consent form for a babysitter in case of a medical emergency. Or they might require a more comprehensive temporary guardianship form when their child will be staying with a relative or trusted friend. These sample forms are publicly available online.
Free legal documents are particularly valuable when they are also accompanied by legal guidelines on how best to complete them.
Although the law recognizes oral agreements, it always makes sense to get it in writing to avoid arguments over what exactly was agreed upon. Using 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 consult with an attorney. Again, you can use the free legal documents and free legal information available on the world wide web to do your preparation beforehand and so lower the consulting time – and hours charged. Please check out our legal contract template for borrowing money on the attachment page.
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