Lending money promissory note

Kamesh (Querist) 12 July 2017 This query is : Resolved
Hello Experts, one of my friend is asking me to lend him money around 3 - 5 lakhs at 12% interest per annum. What should I do in terms of promissory note and getting post dated sign cheques to be on the safer side??? Kindly share your views

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Rajendra K Goyal (Expert) 13 July 2017
Lending to friend is your personal decision.

legally pronote covers the debt.

otherwise you can get post dated cheques.

lend through account payee cheque, take acknowledgement of cheque.

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