Upgrad LLM

lendor died


1.Lendor gave money to borrower 6 yrs back on promisory note on blank paper

2.lendor died few days

3. can lendor son demands money from borrower

 
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First the Lender's Family should obtain the " Legal Heir Certificate " from Revenue Department. Then all the Other Legal Heirs could give an Cosent by way of Affidavit  to that Son mentioned by you authorizing him to do the Collection and then he would be an Legal Representative of his Father's Legal Heirs to act on their behalf.

 
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Advocate

What do you mean by "promisory note on blank paper" - if it is blank, what are its contents? What is your status - the borrower or the lendor's son?

 
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ha21@rediffmail.com Mumbai : 9820174108

Originally posted by : Yogesh Sharma
1.Lendor gave money to borrower 6 yrs back on promisory note on blank paper
2.lendor died few days
3. can lendor son demands money from borrower

 

1. Blank paper Promissory Note is EQUAL to "ILLEGAL" money lending and apprehensively black money collection in the form of exorbitant Interest rates.

2. Anyways, such blank paper imoney lending is illegal and is barred and not-recoverable more specifically after Six years, further more so specifically by Son of Lender.

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com

 
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Retired employee.

If you do not want wish to remain honest and sincere to a lender who helped you in need and waited for 6 years, wait for the action to be taken by lender's legal heirs as he must have taken adequate precautions.  You can not do anything, and can only wait for other's litigation against you exposing your integrity in court with such documents if any as there must be some documents with the opposite party.

 
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Lawyer

I agree with experts.

The transaction made by deceased was an illegal as he had no money lending licence. Besides this, the amount is stated to be 6 years old, it has already barred by limitation.

 
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