Plautus once said, "What you lend is lost; when you ask for it back, you may find a friend made an enemy by your kindness.
ZimbabweFinance and Banking
Introduction
Plautus once said, "What you lend is lost; when you ask for
it back, you may find a friend made an enemy by your kindness. If
you begin to press him further, you have the choice of two things
– either to lose your loan or lose your friend." This
aptly sums up the risks involved in lending to an extent that
others might never want to lend their money as this creates an
atmosphere of uncertainty in lenders. It is because of this
uncertainty posed by lending that people ought to put in place ways
and means which guarantee that whatever is advanced is returned.
One way of guaranteeing certainty and fewer difficulties in the
recovery of debts is by having a party borrowing sign an
acknowledgment of debt.
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