cpc

is it promisory note or not?


This is to certify that Mr. X is living in my house situated at 29, kc.road and the said address could be considered as his address in west bengal and i promise to pay to Mr.X or his order a sum of Rs.46000/- on demand.

SIGNED

MY QUESTION- IS IT A PROMISSORY NOTE?

 
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Advocate

Essentials of a promissory note.

The promissory note:-

1. must be in writing;

2. must be signed by a maker;

3. must contain an undertaking to pay;

4. must be a promise to pay unconditionally on demand or at a fixed or determinable future time;

5. payee must be certain;

6. maker must be certain;

7. sum payable must be certain;

8. must contain a promise to pay money and money only;

9. must be payable to or to the order of a certain person or to the bearer.

The query has all the essential ingredients , hence can be treated as a promissory note.

 
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yes, it is a promissory note.

 
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Mr.Tanmoy, it is not a pro-note at all, where as it is not an enforceable debt in the eyes of law, and in such query there is no proof of earlier debt/receipt of money , except only promise made , it might have a giving loan to such Mr.X by u or someone else, hence it cannot be treated as a pro-note.

 
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PVT EMPLOYEE

If promissory note whom the person has signed expired before paying the payment is it valid or not ?? Do legal heirs are responsible for the same ??

 
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yes it is valid and his heirs are liable to pay such respective amount

 
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PVT EMPLOYEE

With out knowing the genuiness of the Note how come the heirs are eligble to pay ? when taking the signatures only the expired person and alive person there is no 3rd person present at the situation what is the validity and proof for the same.

Pls advice

 
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