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Anita Singh (Querist) 05 October 2012 This query is : Resolved
dear expert,
my friend is in the need of rs 2 lakh seventy five thousand for prsonal purpose so i am ready to give him a said money as a loan and in repayment he will give me per month 10000 rs so pls expert let me know wht document i can make for the same and if in future he will not pay my money to me in that case what could i do for and any special cluase which I can mention in the whatever document i will make for the same which you will suggest me and is it nessary to have a money lending license to give loan to friend

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Devajyoti Barman (Expert) 06 October 2012
Get a document called PROMISSORY NOTE executed with him bearing his signature on his photograph pasted on the same, 2 independent witnesses etc.

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