Legal Question in Credit and Debt Law in India

WHETHER A BORROWER WHO IS NOT FAMILIAR IN ENGLISH COULD EXECUTE A PROMISSORY NOTE IN ENGLISH?

WHAT ABOUT STAMP REQUIREMENTS?

SHOULD THE PROMISSORY NOTE BEAR A WITNESS?

S.Nallasivan


Asked on 5/23/13, 2:58 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

23.05.2013

Dear S Nallasivan,

If the contents of the Promissory Note are explained to the borrower, he can execute it in English.

The prevailing value of Stamps have to affixed on the Promissory Note.

There is no necessity of a witness in a Promissory Note.

Regards,

Read more
Answered on 5/23/13, 3:06 am


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