Validity of friendly loan
joy dasgupta
(Querist) 28 June 2012
This query is : Resolved
RESPECTABLE SIR/MAM,
GOOGD DAY TO U. SIR/MAM I LIKE TO ASK HOW MANY TIMES A FRIENDLY LOAN AGREEMENT IS VALID ,
/WHAT IS THE VALIDITY OF FRIENDLY AGREEMENT /DIT?
THANK U IN ADVANCE.
Devajyoti Barman
(Expert) 28 June 2012
What do you mean by friendly agreement?
Make yourself clear.
SAINATH DEVALLA
(Expert) 29 June 2012
Gentleman joy,
What do you mean by a friendly loan agreement?
Nadeem Qureshi
(Expert) 29 June 2012
Friendly loan agreement is based on the terms and condition of the loan agreement.
Feel free to call
N.K.Assumi
(Expert) 29 June 2012
There is no such thing as friendly loan agreement or enemy loan agreement: Loan is loan.If you think "Money for Nothing" you can go on extending your friendly loan agreement to eternity.
joy dasgupta
(Querist) 02 July 2012
dear sir/mam,
we are not law experts, pardon me but it is usual mistakes by lay mans like me ,isnt it ?
sir/mam, so please omit "friendly" term ,and please put" persona to person" term there ,and please help me .
what is the validity of a loan agreement when a person gives loan to another person for financial stringency ? thank u in advance respectable lawers.
V R SHROFF
(Expert) 02 July 2012
Any transaction,if not clear, 3 years Limitation.
ashutosh mishra
(Expert) 02 July 2012
The term "friendly loan" used by you is not as strange as perceived by bar here who may pardon me in case they feel offended.
One who is not in business of money lending and has lend in casual manner to a person of his acquittance would be called to have advanced friendly loan.
All loan agreements of such nature are valid and can be enforced on default within three years from the date of default clause or from the date of loan depending upon the
covenants incorporated in the agreement.
Hope you get the point clear now.
