My question involves court procedures for the state of: Florida
This forum is very helpful!
I am from Florida. I wish to pay tuition fee, car insurance, cell phone bills, and other bills for my adult child, John, at various times, because he is now in a financial trouble. I wish to make these payments, directly to John’s college, car insurance company, cell phone company, etc, from my personal bank account or by using my personal credit card (i.e., I will not give/pay any money directly to John). I want to make these payments over a period of several months (or a year time) whenever John informs me to pay (i.e., I will not pay these bills in a single lump sum to any of these companies or college but will be over a period of time).
I want to execute a single loan agreement, prior to my first ever payment to any of these companies/college, in which I wish to mention how much money I will pay in total (directly to those companies/college, etc); by what date I will not make any more payments; by what date(s) John has to pay all that money back to me (John can pay me back in one lump sum or in installments as he wishes); and what is the interest rate for this loan.
Is this kind of loan agreement with John is legally valid (OR do I need to execute a separate loan agreement with John for each of the transfers I make to those companies/college of John)?
This forum is very helpful!
I am from Florida. I wish to pay tuition fee, car insurance, cell phone bills, and other bills for my adult child, John, at various times, because he is now in a financial trouble. I wish to make these payments, directly to John’s college, car insurance company, cell phone company, etc, from my personal bank account or by using my personal credit card (i.e., I will not give/pay any money directly to John). I want to make these payments over a period of several months (or a year time) whenever John informs me to pay (i.e., I will not pay these bills in a single lump sum to any of these companies or college but will be over a period of time).
I want to execute a single loan agreement, prior to my first ever payment to any of these companies/college, in which I wish to mention how much money I will pay in total (directly to those companies/college, etc); by what date I will not make any more payments; by what date(s) John has to pay all that money back to me (John can pay me back in one lump sum or in installments as he wishes); and what is the interest rate for this loan.
Is this kind of loan agreement with John is legally valid (OR do I need to execute a separate loan agreement with John for each of the transfers I make to those companies/college of John)?
Validity of Loan Agreement Involving Multiple Payments to Third Parties
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