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Promissory Note

Querist : Anonymous (Querist) 07 October 2010 This query is : Resolved 
What is the legal validity of a Promissory Note from the date it is drawn.
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R.Ramachandran (Expert) 07 October 2010
Mr. Anonymous once it is a promissory note, it can be enforced legally as per the terms of the promissory note.
G. ARAVINTHAN (Expert) 07 October 2010
It is a Negotiable instrument under definition of Section 2 of the NI Act
G. ARAVINTHAN (Expert) 07 October 2010
It is valid for three years
Ajay Bansal (Expert) 07 October 2010
SEE A.I. MANUAL.
Rajeev kulshreshtha (Expert) 07 October 2010
Promissory is valid in law because it is a negotiable instrument. The validity is three year from the date of its execution.
s.subramanian (Expert) 07 October 2010
Yes. I agree with Mr.Rajeev.
Devajyoti Barman (Expert) 07 October 2010
Yes, me too.
Querist : Anonymous (Querist) 09 October 2010
Thanks

Mr. Ramchandra, Mr. Aravinthan, Mr. Rajeev, Mr. Subramanian, Mr. Barman
Querist : Anonymous (Querist) 09 October 2010
Thanks
M/s. Y-not legal services (Expert) 10 October 2010
Yes dear anonymous.. A promissory note's validity is three years from the date of execute.

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