I signed in promissory note with revenue stamp for a private company without any stamp paper.s agreement is it legal to file a case aganist me?
ramesh 09 February 2019
I signed in promissory note with revenue stamp for a private company without any stamp paper.s agreement is it legal to file a case aganist me?
SIVARAMAPRASAD KAPPAGANTU (Retired Manager) 10 February 2019
G.L.N. Prasad (Retired employee.) 10 February 2019
A promissory note need not be on a stamped paper. The revenue stamp confirms legally valid receipt of such money. Agreements can also be oral and hence the promissory note is legally valid. A simple promissory note states receipt of certain amount of money, and about repayment with such percentage of interest to the lender. If the three essentials are there, the promissory note is legally valid.
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