The bigger challenge is proving that the money was actually a loan and not a gift.
By
Jackson Ngari
Contributor
Nation Media Group
You lend Sh500,000 to a relative who needs the money to get through a difficult financial period. You agree that they will pay you back, but because you are family, you do not put anything in writing. Months later, you ask for your money back. Your relative tells you they cannot or will not repay you. Without a signed agreement, do you have any legal recourse?
Be honest with yourself before you lend. If losing the money would break you, it is not a loan — it is a gift you cannot afford.
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