The situation:- A and B are sisters. A has a son and a daughter. B has a son. A plans to give B loan in future via NEFT and execute through a loan agreement. My question: 1) If the loan agreement is in xerox but signed with blue point pen by both parties and 2 witnesses on it, is it valid as primary evidence in court? 2) Now, I know that loan agreement is valid if son of A signs as witness below A's signature and son of B signs as witness below B's signature. BUT IS IT VALID IF daughter of A signs as witness below A's signature and son of A signs as witness below B's signature. What advice can you give to A and her family, if B retaliates later on dishonouring the loan agreement under this situation?
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1. It would be treated then as counter part of the original agreement and admissible in evidence.
2. Validity of a document doe snot depend on gender of a witness nor its relation with the executants.
So any adult person of sane mind can sign as witness and he need not be strangers to the parties. In other words relatives are competent witness .
3. Make a promissory note so on its breach you can file summary suit for recovery of money.
The loan agreement in xerox With original signature of both the parties will be primary evidence. It is totally valid if the daughter of A signs as witness below B'S signature. In my opinion after considering the facts stated by you is to resolve the family dispute within home itself. If nothings gonna work send him a legal notice for recovery of the loan amount and if still B is not paying any heed towards the requests you can file civil suit for recovery and damages under contract act.
1. Once it is signed over the photocopy of the loan agreement paper, it is considered as original.
2. Witness is witness whether it was a daughter or son, provided the witness is over 18 years of age and in sane mind.
1. Yes it is valid evidence before the court of the transaction.
2. It is valid any eligible witness can sign it is not compulsory for son to sign .
He can file a recovery suit to recover the amount.
1. Yes. it is valid as primary evidence in court, due to containing orgional signature on it.
2. As per law, a witness is someone who verifies the authenticity of a document, after declaring that the said document was executed in his presence.
- Hence there is no fixed space of witnessess in any document for his verification.
- Further, as per law , a witness should be at least 18 years old .
- If B retaliates in future, then A can recover her given loan amount with the interest uptodate, from B, after producing the said loan agreement and NEFT payment proof.
Loan agreement is valid if signed by both parties and witnesses
2) it is immaterial who are the witnesses to agreement
3) don’t give any loan to sisters son
Loan agreement is valid if signed by both parties and witnesses
2) it is immaterial who are the witnesses to agreement
3) don’t give any loan to sisters son
Dear Sir,
There is no mathematical bases judgments in India. No body knows what happens it all depends upon your answers in the cross examination. Some times the matter will be taken to High Court saying "loan agreement is in xerox but signed with blue point pen" cannot be admitted in evidence or secondary evidence etc. Thus it will take some years to get judgment in lower court then appeal to higher courts. Better to take cheque which can be recovered easily by filing complaint.
No it's not primary evidence it's secondary.
Yes it's valid.
Yes she can sign
Make the sisters to relinquish their share or noc or be confiriming witness in agreement
Agreement made on plain paper is valid .
A loan agreement does not required by law to be signed by any witness but it is better to have signature of witness of any person preferably known to you.
Or loan agreement may be got notarized to prove its execution.
1. Yes
2. No in the case if other person signs below the name of other person then the agreement can not be enforced by the court of law.
3. Execute the loan agreement properly on 100 rs stamp paper and get the same notarized.
Regards
Without money lending act, interest cannot be chanrged or so better agreement should be principal plus interest = total amount borrowed.
Agreement executed in counter part are valid.
Witnesses are valid. Any one can be witness but try one witness should from her side to maintain transparency.
Take security cheques with amount entered and duly signed but not date.
Photocopies are secondry evidence. The primary evidence is the original copy which is admissible in evidence. However if the party states that the original is lost or is in possession of the opposite party and gives notice to produce the original, photocopy may be admitted.
The loan agreement should be in original and signed by ball point pen.
It should be signed by two witnesses both witness can be children of A it will be valid.
A should also take post dated cheques from B for claiming the loan back.
1. The original loan agreement must remain with lender whereas xerox has to be with borrower.
2. The original loan agreement has to be proved in the court by A if he files a suit for recovery of money against B.
3. The witness can be either son or daughter.
X has registered FIR through private complaint via Magistrate against Y in a cheating case wherein X was induced to transfer money via NEFT to Y. X has loan agreement for the above transaction. Magistrate has been keeping hearing date every month for chargesheet submission from police. Police have given notice to X to submit all required documents, they conducted initial mazaar, recording witness submission as stated in private complaint and have started investigation. Police have also asked X to handover original loan agreement and to bring 2 witnesses when handing it over. Question - Is there an alternative method or less hassle method for handing over loan agreement because X is finding it difficult to find 2 witnesses. 1) Can X handover notarised copy of loan agreement to police, is original document really required for them? OR 2) Can X submit original loan agreement to the Magistrate via IA application to private complaint, so that responsibility of getting the document falls on police? OR 3) Can X handover original loan agreement to police in front of Magistrate during next hearing date? OR 4) please give your advice
1) you have to just hand over original agreement with a covering letter .obtain acknowledgement of receipt of original documents
2) poluce would not accept copy of agreement
From above mentioned facts the following opinion can be developed regarding your query:
1. X can hand over certified to be true notarised copy of the original loan agreement to the police. Police has asked for two persons as for the witness.
2. Magistrate has has for inquiry to be conducted by police officials through section 202 of CR.P.C, It is for your benefit and pls co operate with the investigation.
3. Magistrate will never be the witness to the same.
Rgds
1. If you do not cooperate with the police then they may not prosecute the case properly nor they will give a report in your favor, instead they may state in the report that no proper evidence has been found to take cognizance of the offence and even they may file a closure report if you are reluctant or do not cooperate with the police for the investigation.
2. You can submit the photocopy of the loan agreement to the police and inform them that you will submit the original before court at the time of trial.
3. The above answer suits this question too.
They need to be brought as witness only.
Yes it can be a possibility.
Not to police but on record in court