Legal Question in Credit and Debt Law in India

Hi...My father gave a Loan of Rs 2,40,000 to one of his friends, who promised him that from the money he would start a small business as a private company and my father and He would be sharing the Actual earning on the ratio of 50:50 basis....My father gave the money in 4-5 installments and before giving the first installment of abt 1,30,000, he signed an AGREEMENT with his friend. The Agreement is not made on a judicial paper, but is printed on a plain paper. It states the date when my father gave the first installment, but doesn't state any date when the contract may end. Neither does it state the total amount, as the total amount was nt decided beforehand.The contract has been signed by my father and his friend at the end. Under the agreement, at the blank space, the rest of the 4 installments were written subsequently(by pen), and the friend has signed before each one, stating the date on which the amount was issued and the cheque no. The first installment was given on 8/7/05 and the last one on 14/12/07. Thereafter the friend refused to give any profit amount as promised in the agreement, and also refused to return the money. After constant reminders by my father, he finally issued 3 checks amounting to Rs 90,000, all of which bounced. My father expired of a sudden heart attack on 7th June.

Can I sue his friend on the above matter, and if Yes, How should I go about it? Secondly, I have heard that there is a limitation period of 3 years for filing suits regarding a contract....since the agreement has no ending date, and the last installment was given on 14-12-07, can I still file a case against him? Lastly am i eligible to take advantage of Free Legal Aid for women provided by Delhi Legal service authority's to argue this case, since now I would be filing the case on behalf of my father?

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