Legal Question in Banking Law in India

promisorry note

merits and demerits of promissory note.


Asked on 11/16/08, 1:10 pm

3 Answers from Attorneys
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: promisorry note

refer negotiable instruments act

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Answered on 11/25/08, 6:43 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: promisorry note

Merits : You get money against signing on a paper.

Demerits : You incur a liability to return the money in time and default pay may entail adverse consequences including possibility of a jail term.

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Answered on 11/16/08, 6:36 pm
Nasir Butt Nasir Law Associates

Re: promisorry note

Seemingly question is from Law Student!

Money can be had easily merely on signing the Promissory Note whereas liability to repay may result, in circumstances, attachment and imprisonment.

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Answered on 11/16/08, 11:12 pm


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