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There are cases in the courts that are full of lender and borrower problem where the borrower takes the loan to be a gift from the lender emergency cash. If you are a person who lends money against no contract and you expect the borrower to pay in time, you could be in a grave trouble. If you are lending loan to someone of some value and you expect it to be returned, either you should make it legal by having a written document or at least a verbal document showing at the very least that there has been a meeting that your friend or family member cash til payday is going to give you item back on particular date by which said the item or money should be returned.

You will take this as a personal loan lent but your borrower might not think the same, if the borrower thinks it is a gift given by you and might take it to for granted and may have no intention to be returned, it brings a lot of misunderstanding in the relationships. At least by doing the above thing you can try and avoid any misunderstandings. Now your friend realizes that it is only a personal loan that he is offered and it has to be returned on the date decided and does not think that it is a gift. Therefore, always when lending a personal loan to a magnum cash advance friend or dealing with financial institution remember to take a written document or contract or else it could turn into a she said, he said type of problem.