Execution/registering a stamp paper


Ra Valencia   31 December 2015

Ra Valencia

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I had a question.

I am entering into a money-lending contract with someone. They are willing to give it to me on a stamp paper (with their sign).

What do i need to do so that the stamp paper can be a legal proof?

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DISHA SHAH (professional)     08 January 2016

DISHA SHAH
professional 
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Money lending contact between individuals without their registeration of being lender is not valid at all , even if  you done contract via stamp paper , there is no legality in that

Regards

Ddshah

sathyanarayanan (advocate)     26 January 2016

sathyanarayanan
advocate 
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The term money lender denotes a person who lends money as his regular business, he only needs a licence.if a person gives money to few known people they won't need licence.no registration is required.

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Ra Valencia   31 January 2016

Ra Valencia

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thank you all.

Yes, I want to lend money to a few friends, but I also want to be legally solid, if they do not pay. This has happened to me.

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CA CMA CS Ram Pavan Kumar Melam (CA)     01 February 2016

CA CMA CS Ram Pavan Kumar Melam
CA 
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In case of lending you have to take a demand promissory note / promissory note. In case of a contract, any party to the contract can approach the court for violation or non-compliance to the terms of the contract. Money lending itself is not a contract. If it has other activities such as hirepurchase etc. you can take an agreement from him.


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