1. Roy asked Mark if he can use his phone for a week. If Roy agreed and allowed Mark to use his phone, what contract is created? Explain 2. Lance borrowed money from Renz. There was no stipulation to...

1. Roy asked Mark if he can use his phone for a week. If Roy agreed and allowed Mark to use his phone, what contract is created? Explain

2. Lance borrowed money from Renz. There was no stipulation to pay interest. Has Renz the right to demand interest? Explain