nagendra c.l (channarayapatna hassan dist) 03 July 2012
hi
my name is nagendra i have a problem wid my frd he has my pro note paper wat i give to finance is any problem to me ,if he put case on dat...he has only pro note paper signed by me he doesnt have cheque r stamp paper ...can any 1 plz tell is pro note have value to go to court without cheque r stamp paper
RAJAGOPALAN NAIR (Advocate) 04 July 2012
Can anyone clarify the following:
1. Is promissory note valid without payment of stamp duty. If stamp duty has to be paid, what is the value of the stamp paper. If a promissory note made on Rs. 100/- stamp paper, is it OK.
2. Can a promissory note is valid without taking cheque from the borrower.
3. What is the maximum period of validity of Promissory Note.
4. Can a promissory note be made against a friendly loan paid in cash.
5. What is the procedure for filing suit against promissory note.
6. Is there any limitation for filing the suit against promissory note.
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