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The Simple Loan Agreement Between Friends is designed for use in Denmark when individuals wish to formalize a personal lending arrangement with someone they know and trust. This document becomes relevant when friends or acquaintances decide to engage in a loan transaction and want to ensure clear understanding and legal protection for both parties. While maintaining simplicity and accessibility, it incorporates essential elements required under Danish law, including the Danish Contracts Act (Aftaleloven) and Interest Act (Renteloven). The agreement typically covers loan amount, repayment terms, any applicable interest, and basic default provisions. It's particularly useful for avoiding future misunderstandings and providing a clear record of the arrangement, while being less formal than commercial loan agreements but still legally enforceable.

1. Parties: Identification of the lender and borrower with full legal names and addresses

2. Background: Brief context of the friendly loan arrangement and the relationship between parties

3. Definitions: Key terms used in the agreement including 'Loan Amount', 'Interest Rate', 'Repayment Date'

4. Loan Amount and Purpose: Specification of the loan amount and intended use of the funds

5. Interest Rate: Clear statement of whether interest applies and if so, the agreed rate

6. Repayment Terms: Details of how and when the loan will be repaid, including payment schedule

7. Method of Payment: Specified payment method and account details for repayment

8. Default: Consequences of missing payments or breaching the agreement

9. Governing Law: Confirmation that Danish law governs the agreement

10. Signatures: Space for dated signatures of both parties