Loan of money is a contract for value because the lender a lways lend a sum of money for earning of interest. If the borrower agrees to pay interest to the lender, the loan is a reciprocal contract or contract for consideration.
Loan of money is a contract for value because the lender a lways lend a sum of money for earning of interest. If the borrower agrees to pay interest to the lender, the loan is a reciprocal contract or contract for consideration.