Lost Loan Document
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Question
A person lent a sum to his friend and wrote him a loan document, but the document was lost by the lender, who now wants the borrower to write him a new document. However, the borrower is concerned that the lender might find the first document and claim twice. What should they do?
Answer
The borrower should write a new document, and the lender should write a document acknowledging that all debt documents dated before the date of the latest document are canceled.