Hand Loan Agreement
I live in the United States, my friend who lives in India, he wants INR 60,000 for the hospital fees of his friend`s father. I am ready to help him on loan, we have an oral agreement, since he will repay me every month in May, June and July as 20000. But the money I`m going to give her comes from my sister`s wedding savings. I don`t want to confuse my friendship with my sister`s marriage. One way or another, I want to enter into a credit agreement. But physically, I`m not in India. Give me an idea. Please, I work in a small private company and I receive income of 23k by hand. Now I need an amount for my expenses.
So, if I make available a check a posteriori and a debt note against a loan by hand, I can get a credit of about 35k, which is very urgent. Hello Sreekanth, I am ascetic, I gave my uncle the sum of 7lakhs 50 thousand to 1.5% interest per month. We wrote an agreement for 4 years. He didn`t even give me the amount of interest (he gave some money for my expenses when asked), I asked him to be specific in terms of money. I asked him to make everything transparent and written on paper. As the contract date approaches, I asked him to look at our account to avoid any misunderstanding about the money. He denies looking into the accounts and asks me to execute another deal, because he can`t pay the amount now. In fact, he doesn`t give me a specific date to pay me back. Please propose a solution to this problem. (My concern is that if my uncle suddenly withdraws, his family members won`t safely reimburse me.) This is my concern and asked my uncle to get their family members to sign the agreement (or Sureity) as well, and he denies it. Our agreement will be concluded on the 14th of this month. Please give a solution to my problem, I worry because I only have this money for my savings.
My neighbor received in February 2014, four days before his son`s wedding, a loan from r. 4 Lakhs and said that the loan will be returned in six months with an interest rate of Rs. 2.00 per month. A debt receipt drawn. Interest payments were also overdue. When a guarantor participates in a PR, the PR must be made by the borrower for the benefit of the guarantor who then confirms it to the lender. As far as stamp duty is concerned, the stamps to be affixed are based on the amounts and the relevant stamp duty rates of the State in which the document is executed must be consulted. PRs are normally used for loans with a maximum term of 3 years, which can be extended by the so-called renewal letter, which has the same wording as the PR but relates to the first PR. While PRs are governed by the Negotiable Instruments Act, credit agreements are covered by the Contracts Act. You have to be very careful with credit agreements with the clause, and the design of the agreement is very important, because there can be a dispute about counterfeiting, etc. It is possible that it is also necessary to verify the ownership of the asset that is given as collateral.
Stamp duty varies depending on the duration of the loan, the quantum and the nature of the loan. As of 2017, all rental contracts are in his name and indicate in his income tax the income of the rented house. It`s true? Otherwise, I do not advise you. Dear Sreekanth greetings. I have a unique precision. I`ve been married for 25 years and it wasn`t a happy couple life. We have two daughters, one 22 years old and the other 16 years old. .