Promisory note
shaik. Muneer Basha
(Querist) 31 July 2013
This query is : Resolved
Mr x has taken loan from Y for his business and personal use amount into rs 300000/-, for which x given 4 promissory Notes of rs 75000/- each signed by him and witnessed by his Mother and wife and written by his younger brother in favor of Y all the details are filled except date
are they valid Promissory Notes as they lack the date
Advocate Sastry
(Expert) 31 July 2013
Promisory Note does not require witnesses... It is an unonditional promise and duly signed by the promisor...When was the loan given...
shaik. Muneer Basha
(Querist) 31 July 2013
loan given 18th day of Aug, 2012
now if date is mentioned by the writer who have wrote the promissory note earlier, would it become valid
please clarify the issue
shaik. Muneer Basha
(Querist) 31 July 2013
Nanda sir
If date is mentioned on them now are they become valid
Advocate Sastry
(Expert) 01 August 2013
Better to get fresh promissory Notes without witnesses.
shaik. Muneer Basha
(Querist) 01 August 2013
it is a pre format promissory notes and has witnesses signatures requirement, that's why i taken witnesses signatures on them
R.K Nanda
(Expert) 01 August 2013
execute fresh PN and its printed forms are
available in market.
Raj Kumar Makkad
(Expert) 06 August 2013
Your sole question is that the promissee has written the date prior to the actual execution of the promissory note so whether the same is valid or not.
My reply is that if the date pertain to within 3 years from the date of demand of loan amount then the same is valid otherwise it is invalid and cannot be got executed.
shaik. Muneer Basha
(Querist) 07 August 2013
i like put this question in different words for the sake of understanding from our both sides
X purchased 4 promissory Notes from a Books Stall which are in the Printed form
the Notes are duly filled and signed the the borrower except the date now this,ate they valid
prabhakar singh
(Expert) 07 August 2013
A promissory note can not be antedated.
