Legal Question in Banking Law in India
a. 'A' draws a demand promissory note in favour of 'B' on 15.06.1986. The same was endorsed by 'B' in favour of one Mr. 'C', who presents the note for payment after fifteen years - can 'A deny the payment taking the defence that, it is presented for payment after such a long delay?
Asked on 3/20/13, 8:42 am
1 Answer from Attorneys
Rajiv Chandhok Ph: +919810050896
https://www.linkedin.com/in/rajiv-chandok-0827b733/
Yes.. if the promissory has not been renewed every three (or less) years.
Answered on 3/23/13, 2:38 am
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