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Can cheque be taken as security for lending money to a friend
02-Nov-2023 (In Cheque Bounce Law)
can i give some money to my friend in his bank account from my bank account online for his needs. what should be legal process which take my money safe? can i take his same account cheque as security?
Yes cheque can taken as security.
And for the online transfer of money you need to consult your CA who will guide you for amount, transaction, etc and there is only the security or guarantee in written is the assurance of safety of your money.
Take cheque properly signed and without date.
And for the online transfer of money you need to consult your CA who will guide you for amount, transaction, etc and there is only the security or guarantee in written is the assurance of safety of your money.
Take cheque properly signed and without date.
Helpful?
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Adv. Rahul Jatain
Rohtak | 25+ Answers
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Transfer amount from your bank account to his bank account and you can take cheque from him and you can make an agreement in this regard but u should mention in that agreement that it is friendly loan without any interest. Later on you can present that cheque to your banker
Helpful?
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Yes you can give money as loan to your friend for his need.you can take cheque as security,you need not worry.if your friend don't return the amount on time you can file cheque dishonour case against him.
Helpful?
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Adv. Kalyan Singh Ahlawat
Gurgaon | 25+ Answers
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