Validity of an agreement and promissary note

Arun (Querist) 27 July 2014 This query is : Resolved
Can anyone kindly provide me the information regarding the Validity/Duration of an Agreement and A Promissary note with respect to money transaction. What should be done if the validy expires and what will be the situation if not renewed on time.

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ajay sethi (Expert) 27 July 2014
state facts of your case

Advocate. Arunagiri (Expert) 27 July 2014
What is the content of the agreement?

Arun (Querist) 27 July 2014
An non registered agreement(200 rs) and a promissary note(500 rs) on a stamp paper for rs 6 lakh was signed on may 2010,it was written that money should be returned within 2 years but the agreement validity was mentioned for 3 years from the date of signing, but it is already past 4 years, validity expired, but the party is in overseas, but he will not come just to renew the document.He is telling he will come in this year end, what if he never comes and what happens to the expired agreement and pomissary note.