1, both parties to the contract are qualified;
2. Both parties have the same meaning;
3. The contents of the contract are legal;
4. The lender delivers the loan to the borrower.
The general validity condition is the most basic condition and the same condition for all civil contracts. According to the relevant regulations, private lending contracts should meet three general conditions to be effective:
First, the actor has corresponding civil capacity;
Second, the intention of the parties is true;
Third, it does not violate the law or the public interest. For private lending, the most important thing is to emphasize that meaning is true and does not violate the law.
Legal basis: Civil Code of People's Republic of China (PRC).
Article 667 A loan contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.
Article 668 A loan contract shall be in written form, unless otherwise agreed between natural persons.
The contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method.
Article 669 When concluding a loan contract, the borrower shall, at the request of the lender, provide the true information about the business activities and financial status related to the loan.