1. According to Article 210 of the Contract Law of People's Republic of China (PRC), the loan contract between natural persons takes effect when the lender provides the loan.

2. In the process of concluding a contract, if any of the following circumstances causes losses to the other party, the parties shall be liable for damages:

(1) Concluding a contract under the guise of malicious negotiation;

(2) Deliberately concealing important facts related to the conclusion of a contract or providing false information;

(three) there are other acts that violate the principle of good faith.

3. No matter whether the contract is established or not, the business secrets known by the parties in the process of concluding the contract shall not be disclosed or improperly used. If the disclosure or improper use of business secrets causes losses to the other party, it shall be liable for damages.

Extended data:

If the parties conclude a contract in the form of a contract, the contract is established when both parties sign or seal it; If the parties conclude a contract by letter or data message, they may require to sign a confirmation letter before the contract is established. The contract was established when the confirmation letter was signed.

A contract is concluded in written form as stipulated by laws and administrative regulations or agreed by the parties, but one party has fulfilled its main obligations and the other party accepts it, and the contract is established; If a contract is concluded in the form of a contract, one party has fulfilled its main obligations before signing or sealing it, and the other party accepts it, the contract is established.

China Government Network-People's Republic of China (PRC) Contract Law