Legal value of an agreement on stamp paper


HI,

One of our customers have defaulted to make their outstanding payments due to financial crisis. Now after mutual discussion, they have agreed to pay 40% of the amount. I want to know, if we take a promise/agreement from them in writing on a stamp paper (Rs. 100 or Rs.500), how much value will that stamp paper agreement will hold in the court of law. In case he defaults again, can we produce this stamp paper agreement in the court to file a case. Also, what are the other means to make this agreement to have legal validity... for eg. getting it registered in the registrar office.

Please help.

Thanks.

 
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private practice

Yes you are right you have to make an agreement for the same so that there should be binding effect of the agreement on both of you for future prospects
 
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Lawyer in Hyderabad.wats app no.9989324294

Minimum stamp paper value Rs.50/-

 
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Thank you both for your valuable advices. However, I also want to know if this promise on a stamp paper by the customer will have any legal value, means can we use it to file a case against them, in case they default or should we register this agreement... if yes then how do we register such an agreement.

 
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private practice

Yes you can, you can notarize it which is sufficient to file a case against them, in case of default ,but witness must be reliable one
 
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I think you need to consult atleast once from advisor.

 
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