Legal Question in Criminal Law in India
138 cheque bounce cases - proof of legally recoverable loan and not gift among close relatives:
Even if money transfers can be proved between close relatives or siblings, what is the criteria for establishing them as legally recoverable loan since monetary gifts or even unconditional monetary help cannot necessarily be classified as legally recoverable. If one sibling goes to another sibling in times of need and asks for money which they also get and later on their relationship sours and the lender sibling wants that money back - does the monetary gift at that point convert into legally enforceable loan? By law, should a written agreement accompany any money transfer for it to be a loan and not a gift. In case of business dealings, an invoice or proof of supplies proves legal liability. Often, in siblings, you hear the statement "Jab Hoga, Vaapas De Dena" - that cannot be a legally enforceable loan just because the lender changes their mind later on.
1 Answer from Attorneys
Written Agreement is not a must.
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