Mourya K
in Contracts Law Commercial Law
Asked October 07, 2017

Legality of Promissory Note

  • 0 Answers

My mother gave 2 Lakh rupees to my cousin brother with 2 rupees interest by writing on Promisory note. He died 40 days back and he is having some assets on his name. I asked his wife to rewrite the notes. But, she is denying to rewrite the notes and saying that I'm not responsible for your debts. Please advice me in these 4 questions. 1. Is Promisory notes are legal in India that too with 2 rupees interest? 2. Am I eligible to go to court because it's been 40 days of his death and if eligible, how many days? 3. How much it costs to file a case and how many days it lasts? 4. I am preparing for Civil Services, Does this case affect me in future? Thank You..

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