Proof for loan waiver
Jignesh
(Querist) 24 September 2016
This query is : Resolved
We have a partnership firm with only two partners i.e me and my brothers wife.
The firm has taken an unsecured loan from my partners husband(my brother) and partners son.
This unsecured loan is shown in balance sheet of the firm also.
It was verbally agreed with my brother that he will never claim the loan he has given to firm.
Now my brother has expired and me and his wife (partners of firm) are planing to dissolve the firm.
Please suggest me a format and title of letter/agreement/mou which i can get signed by my partner(brothers wife) and her two sons (being the legal heir of fathers loan and another loan in one sons name) saying that they will never claim this loan from the firm(or forego/waive this loan) and it is settled.
Raj Kumar Makkad
(Expert) 24 September 2016
We do not supply such formats as you desire. Simple affidavit duly notarized shall suffice to dissolve the partnership and as your partner is also a legal heirs of your creditor so get her specific affidavit with her sons (if those are major and if minor her sole affidavit on behalf of herself as well of minor sons) should be obtained as a mark of receipt of her loan amount.
Rajendra K Goyal
(Expert) 25 September 2016
Formats / drafts / samples not provided in this section.
Get dissolution deed drafted and executed.
Take receipt of loan paid from the legal heirs.
Kumar Doab
(Expert) 25 September 2016
'This unsecured loan is shown in balance sheet of the firm also.'
Pay the loan and obtain the receipt.
