Kansas Statutes 50-1007. Contracts required to be in writing; retention of copy by borrowing party

Current as of: 2023 | Check for updates | Other versions

Contract: A legal written agreement that becomes binding when signed.
Loan: means any agreement to advance money or property in return for the promise to make payments for the money or property. See Kansas Statutes 50-1001

To be enforceable, every contract for the services of a loan broker shall be in writing and signed by all contracting parties.

The borrowing party shall retain a copy of the signed contract at the time it is signed.