Legal Question in Credit and Debt Law in India

My uncle gave a promissiory note of 4,00,000 to his friend and after 4 months, uncle died. Do his wife and Children are legally liable to repay that loan? Please suggest.


Asked on 8/23/15, 10:48 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

24.08.2015

Dear Sir / Madam,

If the Promissory Note contains the term "and including my legal assigns and heirs". then the wife and children remain legally bound to repay the loan in the event of the demise of the Promissor.

Regards,

Read more
Answered on 8/24/15, 3:19 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in India