Kaagazaat

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Promissory Note (Pronote)

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  1. Payee and Maker
  2. The Note
  3. Stamping, jurisdiction and signing

Step 1 of 3

Payee and Maker

For example: Harpreet Kaur

Payee's addressNeeded

For example: AFRPB2211J

For example: Gurpreet Singh

Maker's addressNeeded

For example: AFRPB2212K

More details — you may leave these

Complete this only where more than one person is making the Note together. Each person named here signs the Note and is jointly and severally liable for the whole amount. Leave blank for a single Maker.

A long answer. Several lines are fine, and a break you make between paragraphs is the break the document keeps.

For example: Simran Kaur, PAN AFRPB2213L, House No. 214, Phase 4, S.A.S. Nagar (Mohali) 160059

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The live draft

The draft, as it stands

This is the whole document, not a sample of it. It is rewritten every time you change an answer.

A long blank line — __________ — stands wherever an answer has not been given. It is left that visible on purpose, so an unfinished document cannot be mistaken for a finished one.

No answer has been given, so every place a detail belongs is standing blank. The shape of the document is worth reading even now.

PROMISSORY NOTE

__________, __________

__________

For value received, I, __________, of __________, PAN __________, unconditionally promise to pay __________, of __________, PAN __________, the sum of __________, payable __________, together with interest as stated below, at __________.

This Note is __________.

  1. INTEREST

1.1 __________.

  1. NATURE OF THIS NOTE

2.1 This is a promissory note within the meaning of s.4 of the Negotiable Instruments Act, 1881, and the promise to pay contained in it is unconditional. It is not made payable to bearer, consistent with s.31 of the Reserve Bank of India Act, 1934.

2.2 Under s.118 of the Negotiable Instruments Act, 1881, this Note, being a negotiable instrument, is presumed until the contrary is proved to have been made for consideration, to bear the date it shows, and, where a period is stated, to have been made payable within a reasonable time of that date.

  1. IF THIS NOTE IS NOT PAID WHEN DUE

3.1 If the sum due under this Note, or any interest on it, is not paid when it falls due, the Payee may recover it, with interest continuing to run as stated above, by civil suit — and because this is a promissory note founded on a written, unconditional promise, a suit to recover it may qualify for the summary procedure under Order XXXVII of the Code of Civil Procedure, 1908.

3.2 Non-payment of this Note is a civil default and does not, by itself, carry the criminal consequence that s.138 of the Negotiable Instruments Act, 1881 attaches to a dishonoured cheque; this Note is not a cheque and that provision does not apply to it.

  1. STAMP DUTY

4.1 Stamp duty on this Note is borne by __________, and has been paid before this Note was signed, consistent with the stamping note that accompanies this template.

  1. JURISDICTION AND GOVERNING LAW

5.1 This Note is governed by the laws of India, and the courts at __________ alone have jurisdiction over any suit or proceeding to enforce it.

  1. GENERAL

6.1 This Note is the Maker's complete undertaking regarding the sum stated above, and is not varied by anything said or written elsewhere; any variation of its terms must be made by a fresh, separately stamped note or by a written instrument signed by the Maker.

6.2 A failure or delay by the Payee in demanding or enforcing payment is not a waiver of the Payee's rights under this Note.

SIGNED by the MAKER

__________
PAN: __________

Signature: ______________________________
(Sign across the revenue stamp, per s.12 of the Indian Stamp Act, 1899)

The rest stays out of view until every answer is in.

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PROMISSORY NOTE

__________, __________

__________

For value received, I, __________, of __________, PAN __________, unconditionally promise to pay __________, of __________, PAN __________, the sum of __________, payable __________, together with interest as stated below, at __________.

This Note is __________.

  1. INTEREST

1.1 __________.

  1. NATURE OF THIS NOTE

2.1 This is a promissory note within the meaning of s.4 of the Negotiable Instruments Act, 1881, and the promise to pay contained in it is unconditional. It is not made payable to bearer, consistent with s.31 of the Reserve Bank of India Act, 1934.

2.2 Under s.118 of the Negotiable Instruments Act, 1881, this Note, being a negotiable instrument, is presumed until the contrary is proved to have been made for consideration, to bear the date it shows, and, where a period is stated, to have been made payable within a reasonable time of that date.

  1. IF THIS NOTE IS NOT PAID WHEN DUE

3.1 If the sum due under this Note, or any interest on it, is not paid when it falls due, the Payee may recover it, with interest continuing to run as stated above, by civil suit — and because this is a promissory note founded on a written, unconditional promise, a suit to recover it may qualify for the summary procedure under Order XXXVII of the Code of Civil Procedure, 1908.

3.2 Non-payment of this Note is a civil default and does not, by itself, carry the criminal consequence that s.138 of the Negotiable Instruments Act, 1881 attaches to a dishonoured cheque; this Note is not a cheque and that provision does not apply to it.

  1. STAMP DUTY

4.1 Stamp duty on this Note is borne by __________, and has been paid before this Note was signed, consistent with the stamping note that accompanies this template.

  1. JURISDICTION AND GOVERNING LAW

5.1 This Note is governed by the laws of India, and the courts at __________ alone have jurisdiction over any suit or proceeding to enforce it.

  1. GENERAL

6.1 This Note is the Maker's complete undertaking regarding the sum stated above, and is not varied by anything said or written elsewhere; any variation of its terms must be made by a fresh, separately stamped note or by a written instrument signed by the Maker.

6.2 A failure or delay by the Payee in demanding or enforcing payment is not a waiver of the Payee's rights under this Note.

SIGNED by the MAKER

__________
PAN: __________

Signature: ______________________________
(Sign across the revenue stamp, per s.12 of the Indian Stamp Act, 1899)

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