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1)A loan sanctioned to a minor has been guaranteed by X. Minor fails to pay) Should recover from guarantor) Should recover from minor) Should forego as minor is not competent to contract) None of
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1a loan can be sanctioned to individuals, businesses, or organizations depending on the lender's criteria.
The borrower or the person/organization sanctioned the loan is required to file the necessary documents related to the loan.
To fill out 1a loan sanctioned documents, provide accurate and detailed information about the borrower, loan terms, purpose, and repayment plan.
The purpose of 1a loan sanction is to provide financial assistance to the borrower for specific needs such as business expansion, education, home purchase, etc.
The information reported on 1a loan sanctioned includes borrower details, loan amount, interest rate, repayment schedule, and collateral if applicable.
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