Dear Sreejith, 1 — I think it`s normal to write a PN on the loan that has already been taken from you. Also, you can take the help of witnesses. 2 – Everything and everything can be challenged in our court. But he has to prove/justify his point of view. Offer to consult a civil lawyer and seek advice. I lent 3 Lake rupees to a friend and in return h gave me a guarantee to return money by returning it to a mark of 500 and a check dated from the post that I can use it after a delay. Guess if I`ve been paying my money back? I borrowed money from my father. If we both accept word-of-mouth propaganda for this loan and honor it, do we need a PN? In other words, is the borrowing of money by word of mouth legal as long as we do not have a dispute over this credit? In addition, the agreement on cash loans, loans and overdrafts has been increased from 120 billion euros to 2 trillion euros. Similarly, stamp duty on diek`s agreement on education credits has been significantly increased, from Rs 10 to 2000.
In addition, stamp paper for the execution of loan agreements against gold jewellery has been increased from 10 to 2,000 applications. The steep increase had a heavy impact on small borrowers. Dear Rakesh, why do you want to take the risk? You offer to write a fresh PN with an interest amount of 2 years (if it exists), then take post-taken cheques for refund. I don`t think sales brands are engraved on it for years. Dear Sir, should the credit contract be notarized and, if so, under what law? Dear Prakash, advise getting the agreement as soon as possible. Credit to friends/parents is a very important risk and, if you don`t agree, imagine only the quantum of risk. You can join and have the schedule signed. Just because you are illiterate does not mean that you cannot benefit from a bank loan This contract is governed by the fundamental principles of contract law. Only the turnover stamp must be inserted at the end of the agreement. Dear Sarfaraz, While closing the loan, your banker could ask for the source of funds, so it is better to have made a credit contract between the two parties (even and your friend).