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sanjay kumar patibandla (advocate)     05 September 2010

Legal Enforcable debt

Dear sirs,

Now a days meaning legal enforcable debt is some how mis understanding by the public as well as legal fertinety.


All are thinking that with out any documentary proof is not a legal enforcable debt. 


Please define the word " Legal Enforcble Debt"


 3 Replies

N.K.Assumi (Advocate)     05 September 2010

I am of the view that "Legal enforceable debt" mean right to enforce an existing liability unlike claim for damages. In case of debt there is always an existing liability for the payment of an ascertained sum of money.A debt is always liable to attachment and, therefore transferable or capable of being asigned.

Adesh Kumar Sharma (Senior Associate Lawyer)     06 September 2010

Dear Friends,

Debt is an obligation that a person or organization has to another person or organization. Debt may be in the form of a bond, note, mortgage, line of credit, or other financial instrument. Debt may be secured by assets, which means that the assets will be seized in the event of default, or be unsecured.

Further it is not mandate that there should be any documents of proof. If there is any document then this debt would be secured debt otherwise unsecured debt.

Now come up to legally enforceable debt, if someone has a legal right or any particular law to recover the particular debt then it is said legally enforceable debt.The best example is section 138 of NI Act, which governs the enforceability of debt, which is secured by Cheque.




Amit Kr. Sahewalla (Lawyer)     06 September 2010

it is simply the debt that can be enforced at the court of law.

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