Dear Prakash, advise yourself to get the agreement as soon as possible. Granting credit to friends/relatives themselves turns out to be very risky and if you don`t have an agreement, just imagine the quantum of the risk. You can have the culture annexed and signed. Hi, Shreekant. This is a very good article. I have a doubt, so if you can only help me, it will be great. I know someone thanks to my cousin who would take a sum of 1 varnish and pay 1 year 5000 per month, and after a year he will return 1 varnish. Honestly, my profit would be 6,000 francs for the loan. He calls it an investment. He says he will give a bond paper that says he received 1lack from me and after 12 months, 1 lack of me will be reimbursed. But it doesn`t mention anything more than 5,000 monthly payments. What I want to know is that if he includes the monthly payments in the contract document and he doesn`t pay me those payments, could I pay him in court to get my money back? Will the bond paper be valid to fight it in court? “Such a contract/agreement will not be valid if your wife claims her right to the property and a legal option is taken to that effect.
The Hindu Marriage Act and other related laws crowd out the agreement signed between you and your wife. You should not opt for such agreements, as this will complicate things in the future. `The loan granted under this Agreement shall apply to ………….. Nor can the loan period be extended by mutual written consent of both parties. (i) Can I show the PN (who is now with me) to the US court or the US government to prove that I lent him money (I transferred money to him because) in 2010, when we were in India to treat my father? In other words, do U.S. courts or the U.S. government recognize the PR originally signed in India? If necessary, my wife is ready to testify that the PN information is true. A loan agreement, also known as a fixed-term loan, on-demand loan, or loan, is a contract that documents a financial agreement between two parties, one being the lender and the other the other the borrower. This contract sets out the amount of the loan, any interest charges, the repayment plan and the payment dates. A written contract gives the borrower and lender a clear overview of the terms of the loan. Mr Reddy, I would like to ask for a personal credit case in which I granted interest to a known person 10 rupees in the form of a loan, I received from him a cheque for the same amount and I signed a stam document that mentions the interest rate and the duration of one year for the contract.
No indication is given as to what will happen at the end of the period, nor on the penalties or clauses relating to the non-repayment of capital and interest. the person had paid me regular interest the first year and also the 2nd year with restitution of 5 Lakh Pricipal. But now he has not paid interest or capital for two years, because his financial situation is bad. the cheque he has given is staggered and no conditions for repayment of gifts and penates on stamp paper are mentioned. Can I go ed and ask him to take an interest, and if he denies, I can talk about it legally. .