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Confusion in loan Agreement and detention
31-Dec-2023 (In Cheque Bounce Law)
First party "Jyoti Gupta" (Leander) has given the loan of 1,00,000 Rs (One lakh Rupees) to Second Party "Yogesh Verma" (Borrower) via cheque which is deposited in my account "Sachin Mishra"
Now I am quoting the agreement notes
-- Due to lieu of Security the second party has given post dated cheque (which is issued from my account of course with my permission but that loan is only issued for and used by second party) to first party
-- If the second party fail to repay the amount within stipulated time as agreed, the first party shall have power to deposit the said cheque in his bank account and can get the same honoured. The second party shall have no objection whatsoever and second party under take that he will not close the account and keep sufficient balance to honour the cheque. If cheque is bounced in that case the second party shall be liable for mischief under Negotiate instrumental act.
Sir now first party have deposit the cheque and it is bounced she is threatening me
Hi sir when was the Cheque Been give and all what time was it how much was the cheque amount and all what did she say and all why did u take the loan how much was the loan amount and all u Can tell the court about that ur ready to settle the matter and all but u can file a complain against her that she is trying to pressure and all
Helpful?
11+
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Adv. Yash Karan Jain
Delhi | 400+ Answers
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first you will have to see the facts and circumstances of the case to determine whether a case is made out. you may be liable for the same depending on the nature of agreement and other clauses for it.
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Adv. Rohan Sharma
Delhi | 200+ Answers
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What are you writing? its better if you talk on the phone. There is no clarity what you are saying. As far as i can understand you stood as the guarantor of the debt wherein you gave a post dated cheque to the first party and if second party, does not honor his commitment then ofcourse she would deposit it. You are certainly liable for the payment of first party. In order to defend your case i need to go through your case files and documents, to comment. For further clarification, please contact.
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Adv. Ujjwal Jain
Delhi | 200+ Answers
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