Can we get the money back, and loan it to someone?

Can we get the money back, and loan it to someone?

Of course, one can take his money back which was loaned to someone in the past. We suggest there is an agreement between two parties or among all the parties. If there has been just a bank transaction then it is still counted as valid proof but the accused can have several accuses this way as well. So one can certainly have the loan back but there must be support of a valid contract too. Civil Law applies here and the attorney expert in Civil Law is called as Civil Law Lawyers and Legal Consultants. So, can we get the money back, and loan it to someone? Is it legal notice for a loan return or a direct civil case? Lets discuss.

Have you given a small loan to someone or your friend? Did he promise to pay you back but he is not paying you back now? Have you been exhausted and tired by asking him again and again? If yes, then you have a few legal options available that you can use against the borrower to get your money back. But please keep in mind that interest is not acknowledged in the UAE over any investment or loan.

So the loan should be interest-free. UAE Civil law usually and mostly applies to such topics, unless there is a criminal case. UAE Civil Law states that both parties have to fulfil the terms and conditions of the contract when both are mutually agreed. This is explained under UAE Civil Law Article 257. Based on this article both parties are bound to fulfil all the terms and conditions of the agreement.

In case there is a breach and the accused party deprives the aggrieved party of his rights, then the aggrieved party has the right to open the court case or serve a legal notice. A legal notice is the mediation process where the aggrieved party can serve the accused party for the unfulfilled transaction or contract. Contractual obligations have to be met or fulfilled, otherwise, the breach allows the aggrieved party to take legal action.

Court action is one of the available possibilities for the aggrieved parties, where the aggrieved party has the right to open the case. Make sure that the relevant Emirate has been chosen as per his residence, and make sure that proper documents need to be submitted while registering the case. If there will be some special provisions then, Article 24 of Federal Decree Law # 42 of 2022, of Civil Code UAE clearly states that the First Court of Instance will be the dedicated court or jurisdiction for all the initial claims. After that, appeal court and cassation courts are approached, in case, when appeals are filled by either party or both parties.

Nothing is possible without supporting documents in court. The court will not entertain any party if not enough supporting docs are provided to the court. UAE courts play a vital priority in supporting documents.

To understand the importance of litigation or supporting documents or court cases one can contact our Civil Law Lawyers and Legal Consultants. This way, legal solutions can be obtained, through the competent Civil Law or Commercial Law Lawyers.