recovery suit

rajan chopra (Querist) 21 November 2013 This query is : Resolved
Is it mandatory for me to obtain consent from the maker of pronote before endorsing it in favour of another person at different place since it is payable to me only as and when demanded by me?

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Biswanath Roy (Expert) 22 November 2013
If the borrower expressly promised to pay borrowed sum to the pro note holder or his bearer or his agent then consent of the borrower is not required otherwise borrower;s consent is needed.

Rajendra K Goyal (Expert) 22 November 2013
If the pro-note is payable to ABC or order, it can be endorsed, being a negotiable Instrument. No need of taking consent of maker. Pro-note can not be a bearer as it would amount to currency note which can not be written by unauthorized person.

Dr J C Vashista (Expert) 23 November 2013
No consnet required, I endorse experts views.

rajan chopra (Querist) 23 November 2013
A pronote is made by A payable to B only on demand.Now can B make demand and after non compliance file a recovery suit from a different place other than mentioned in pronote? Address mentioned in pronote is buisness and another is permanent address of B.

Rajendra K Goyal (Expert) 23 November 2013
The suit is to be filed at the mentioned place in the pro-note where the demand is to be made.

R.K Nanda (Expert) 23 November 2013
nothing to add more.

Surrender K Singal (Expert) 23 November 2013
It is only B who can demand and enforce recovery unless it specifies "or order" after B in the body of Pronote

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