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  3. Tuesday, June 13 2017, 12:50 PM
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1. Promissory note is valid only if it in "printed form" available in shop for 5rs?


2. Can I prepare a promissory note in MS word, with the following content is valid? correct

wordings?

PROMISORY NOTE
----------------------------

ON DEMAND, I, ______________________, son of ________________, aged about ____ years, residing in _______________________________
______________________________ do hereby PROMISE TO PAY ________________, son of __________________, aged about _____
years, residing in _____________________________________________
the sum of Rs.__________ in words __________________________
_______________ along with interest of _____ % per annum in the bank account of ______________________.

Date: _________
Place: _________ Signature in Revenue stamp

witness:


3. the following points are missing in the above pronote, is that ok?

a) on a particular date, the borrower received cash of Rs. 1,00,000 as Loan from Lender
b) reason for borrowing - family expenses, son's education, wife's hospital expense

4. On demand by who?
How to include - On demand by lender or relatives of lender
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Accepted Answer
Dr Katta Accepted Answer
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1) Yes.

2) No.

3) To draft legally, consult a local experienced, competent, relevant law expert, an intelligent, able Advocate of repute, in person, with full facts, documents and evidences, to explain more elaborate in detail.

Click 'ACCEPT AS ANSWER' to appreciate my legal response.
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  1. more than a month ago
  2. Recovery of Money
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R.K Nanda Accepted Answer
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1.yes.

2.no.

Click accept as answer if you liked my reply.
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  1. more than a month ago
  2. Recovery of Money
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