Promissory note

JS (Querist) 18 October 2015 This query is : Resolved
Dear sir,
I wish to clarify some doubt regarding Validity of Promissory Note.
I.e. Mr.Raj borrowed Rs.1 Lakh by Cash from Mr.Krishnan & execcuted a Promissory note in favour of Mr.Krishnan.
Whether it is valid one?
Whether Mr.Krishnan can claim the amount through court if the borrower failed to repay the amount?

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Anirudh (Expert) 18 October 2015
If the supposed promissory note contains only the following:

"Mr.Raj borrowed Rs.1 Lakh by Cash from Mr.Krishnan & execcuted a Promissory note in favour of Mr.Krishnan."

then it is absolutely useless, as it is not al promissory note at all.

SAINATH DEVALLA (Expert) 18 October 2015
Can U mention the contents of the promissory note,without details it is difficult to arrive at a suggestion.

Rajendra K Goyal (Expert) 18 October 2015
How are you concerned with the query?

K.S.Srinivas (Expert) 20 October 2015
The author of the query may mention the contents of the promissory note to get proper advice from the experts.

T. Kalaiselvan, Advocate (Expert) 24 October 2015
If the promissory note contains repayment on demand and other details, then it isvalid.

V R SHROFF (Expert) 24 October 2015
Query for Academic purpose are not entertained here.
[ Pro note Mr.Krishnan can claim the amount through court, within 3 yrs.]

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