When borrowing from friends and family,it is better to treat the arrangement as a formal loan.

Name: When borrowing from friends and family,it is better to treat the arrangement as a formal loan.
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Quizplus · Accepted Answer

It is recommended to treat borrowing from friends and family as a formal loan to avoid misunderstandings and maintain healthy relationships. This includes setting a repayment schedule, specifying interest rates (if any), and documenting the agreement with a written contract.

When Borrowing from Friends and Family,it Is Better to Treat