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Anita Singh (Querist) 12 June 2012 This query is : Resolved
dear expert,
my client had taken a friendlely loan of rs 5lakh 50000 from one of his friend and reapid rs 400000 out of that 5,50000 and balance amt he will pay after wards he want to make a document or that so what document i can make for him pls suggest and what conten i will put in that document

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Adv Archana Deshmukh (Expert) 13 June 2012
Execute a promissory note for the unpaid loan.

Devajyoti Barman (Expert) 13 June 2012
Who want to get the document drafted, the borrower?
If yes then receipt of acknowledgement of full amount with no amount due written by the creditor and signed by him and preferably witnesses by two persons is sufficient.

Shashikant V. Patil (Expert) 13 June 2012
You can write a heading of "Receipt of Paid cum unpaid hand loan" stating that, creditor given handloan ofRs 5,50,000/-to the borrower on xxx date and out of which, borrower paid Rs 4,00,000/- to the creditor on xxx date. And borrower is still owes to pay Rs 1,50,000/- to the creditor. Whereas Rs 1,50,000/-is now balance due with borrower and borrower assures to return back to the creditor by the end of xxxx month. Hence this receipt of paid cum unpaid handloan signed by both creditor and borrower on xxxx in presence of two witnesses.