Legal Question in Credit and Debt Law in India
My uncle gave a promissiory note of 4,00,000 to his friend and after 4 months, uncle died. Do his wife and Children are legally liable to repay that loan? Please suggest.
Asked on 8/23/15, 10:48 pm
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
24.08.2015
Dear Sir / Madam,
If the Promissory Note contains the term "and including my legal assigns and heirs". then the wife and children remain legally bound to repay the loan in the event of the demise of the Promissor.
Regards,
Answered on 8/24/15, 3:19 am
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