LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Murthy   15 November 2018

Validity of promissory note

I have lent money to a person on 15/11/15 and get him signed on a promissory note for the same on 15/11/15. Will it be valid till 14/11/18 or till 15/11/18

Thanks in Advance,

Murthy



Learning

 12 Replies

Adv Deepak Joshi +917017821512 (Advocate)     15 November 2018

Academic question.

manoj   16 November 2018

The said promissory note is valid for Three years. As per your query the date of execution of promissory note is dt.15-11-15. The life of said promissory note will be valid till 14-11-15. 

V E MANOJ KUMAR

ADVOCATE

CELL NO 8686159292

G.L.N. Prasad (Retired employee.)     16 November 2018

If you obtained acknowledgment, you may get the period extended from that date of his signature with date on the promissory note.

Murthy   16 November 2018

@Manoj sir,

So you mean it will expire on 14/11/18 ?

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 )     16 November 2018

The date of payment of the amount must be there on the promisory note, otherwise 3 years limit for recovery of money due as per the promisory note.  

 

manoj   16 November 2018

It will expire on 14-11-18

Shanmugam .C   17 November 2018

Mr. V.E. Manoj Kumar Advocate infrations is hold good.

C. Shanmugm 17-11-2018

Murthy   18 November 2018

My promissory note has expired on 14/11/18 and my friend is not responding to my requests of paying loan. What can i do now? Are there any chances for me to proceed legally?

Shanmugam .C   18 November 2018

If you send copy of your  promissory Note and yr copy of notice sent to the party and copy of acknowledgement receivied by you so as  to take a decession for issue fresh notce to him.

 

C. Shanmugam 18-11-2018

E-Mail: shanmugam628@gmail.com

 

 

raghu ram janamanchi   24 November 2018

Promissory note was written on 15-01-2013.Then it was endorsed on back side of the promissory note with a signature of the borrower on 10-01-2016. I think it's validity will be up to 14-01-2019. Once again if it is endorced by the borrower on 10-01-2019 by putting a signature on the back side of that promissory note....it's validity will increase by 3 years or not...?? Please give me the answer sirs...!! ,,

G.L.N. Prasad (Retired employee.)     24 November 2018

This is the reply you might have missed and it serves to remind you that you have already received clarification.  Contact Local advocate and initiate action immediately.

If you obtained acknowledgment, you may get the period extended from that date of his signature with date on the promissory note.  

That means three years from the date of such signature on the promissory note.

raghu ram janamanchi   25 November 2018

Thanks sir....

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register