The general common law. Where money is lent without any stipulations as to time of repayment, a present debt is created which is repayable immediately and without previous demand.13 However, the parties may expressly or impliedly agree that the loan will only be repayable on demand, e.g. an overdraft on a bank current account,14 or on some stipulated date, e.g. under a bank personal loan (see para 2.17). As to interest, see para 7.03A;15 and as to the incorporation of the lender’s standard terms into particular loan contracts, see para 18.04.