Legal Question in Credit and Debt Law in India
Sir, I have given a person some amount of 7 lakhs 50thousand ruppes for interst(1.50%)for wich i made him get signed on a 100rs bond paper(promisary note).i havent taken any security(i.e,house documents or car etc)from him.i am very much worried abt this. does this document(100Rs bond) help me if he does'nt pay back my money. The both witness are his wife and his son,does this create any problem to me if he does'nt pay back the money. i will be very much thankfull to you if reply for my doubts." i have gave him money in the form of cheques(havent written his name on the cheques,means i kept the payeable name blank and gave him
1 Answer from Attorneys
dont wory though u have not given the name in cheques but that must have been transferred to his account ... which will be proven by bank records ....
rest u may use the stamp paper ...
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