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Mp Krishnaiah   17 March 2020

5 promissory notes

dear experts
A person executed 5 promissor
notes infavor X
1 is on 13.04.2017 for rs.200000
2.is on 23.5.2017 for rs 100000
3.is on 21.06.2017 for rs 75000
4. is on 15. 07.2017for rs60000
5.is on 3.08.2017 for rs 100000 for security purpose
can that person file a ONE suit on the above promisery notes or on how many promisery a suit can file. kindly advice on this.
Thanq very much in advance


Quick Summary
This discussion explores whether it's possible to file a single lawsuit for five separate promissory notes issued on different dates. While the initial thought might be to consolidate them, the limitation period for each note varies. The consensus suggests that filing one suit for all five may not be feasible due to the differing dates of execution and the potential application of rules similar to those for cheque dishonours, which often limit the number of instruments per case.

 2 Replies

manohar   17 March 2020

Limitation period of promisery note is three years.Hence person can not file one suit for all 5 promise notes obtained in different dates.

Mp Krishnaiah   20 March 2020

Dear experts
there is a ruling read by me some where one can not file a case on more than 3 cheques under section 138 .hence i expressed my doubt.
THANQ.

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