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signed a bond paper of Rs 20 (Rupees Twenty)
25-Sep-2023 (In Documentation Law)
Sir,
I have signed a bond paper of Rs 20 (Rupees Twenty) on which i promised to repay the loan amount of Rs 18000/- (Eighteen thousand Only) with in two months from September 3rd 2018 . What will be the consequence if i delay it by another month.
A promissory note is a financial instrument that contains a written promise by one party (the note's issuer or maker) to pay another party (the note's payee) a definite sum of money, either on demand or at a specified future date.
A promissory note typically contains all the terms pertaining to the indebtedness, such as the 1.principal amount, 2.interest rate, 3.maturity date, 4.date and place of issuance, and 5. issuer's signature. please check whether you have above mentioned points .
if both parties agree to extend the payment date to future date that can be done by making necessary amendment in the promissory note with new date of payment
A promissory note typically contains all the terms pertaining to the indebtedness, such as the 1.principal amount, 2.interest rate, 3.maturity date, 4.date and place of issuance, and 5. issuer's signature. please check whether you have above mentioned points .
if both parties agree to extend the payment date to future date that can be done by making necessary amendment in the promissory note with new date of payment
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Adv. Rajesh Xavier
Hyderabad | 25+ Answers
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