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How can I lend my money on interest ?
26-Apr-2023 (In Cheque Bounce Law)
sir my friend is asking me for rs.50000..he is saying that he will return the money with interest after 1-2 years.he wants me to take advance cheque...i want to ask: 1.should i do payment through cheque? 2.should i have sworn an affidavit from him while giving him cheque?if yes affidavit should be attested by whom? 3.how much of penalty can i mention in affidavit if advance cheque bounces? 4.should i mention interest in affidavit?
Well its a smart move that you take an affidavit. And make sure you mention all the above that you are asking. And also make sure you make him sign a pronote along with cheque. If he is willing to sign all, I think the person will genuinely return your money.
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Adv. Kanwarjit Singh Pruthi
Patiala | 200+ Answers
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You can have his blank cheque as a security and also an agreement duly registered. Even the absence of agreement will not effect the case.
You can enter penalty on non payment as may be amicably settled between both of you.
You should have mention each and every minutest deal between you and ur frnd in that agreement and agreement should be duly registered.
Further you can include how you will recieve payment with interest and also the proper mode of lending which can include cheque details if any or by hand infront of witness present.
You can enter penalty on non payment as may be amicably settled between both of you.
You should have mention each and every minutest deal between you and ur frnd in that agreement and agreement should be duly registered.
Further you can include how you will recieve payment with interest and also the proper mode of lending which can include cheque details if any or by hand infront of witness present.
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Adv. Shivam Sood
Ludhiana | 200+ Answers
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Now what I'm telling you is something which may not be ethical. Why don't you get it writing that you have advanced friendly loan (write amount by adding interest you are to take) take cheque but don't mention in affidavit to get signed by witness try to give payment through cheque
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Adv. Anuj Anand
Kapurthala | 25+ Answers
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