Don Manuel Garca Ferrer is self-employed and is dedicated to installing air conditioners. His friend, Mr. Antonio Lpez Hernndez, has decided to set up a Business Accounting and Taxation business. For this he needs to make an initial investment of 40,000. As his friend Manuel is doing very well, he has chosen to borrow from him instead of going to a bank. Don Manuel will give Don Antonio the amount of 40,000 by bank transfer on September 15, 2016. They have agreed that Don Antonio will return the amount in four annual payments. The payment of each annual fee will be made at the end of each year with an annual interest of 4%. To document the payments, four bills of exchange corresponding to each annuity will be issued. To make sure of the collection of the amounts, Don Manuel has requested that the payment of the letters be guaranteed by the father of his friend, Mr. Luis Lpez Prez.

Don Manuel has decided to buy a new second-hand vehicle. To pay for this acquisition, he endorses the first letter to Doa Alicia Martnez Castro on October 01, 2016.

DEVELOP

1. Draft the Commercial Loan Agreement detailing the form of payment and including all data that is not provided and it is necessary.