Money Lending Agreement Format India

A friend of mine is in the United States and his wife is in India. His wife expects money from her husband so she can take a country and build a house in Hyderabad. But she wants to keep the property in her name and she is ready to repay her husband in the future (interest and principal amount). Well, what type of loan contract should be established between wife and husband and the loan contract should be no problem, even if there is a problem in the future such as divorce/separation, etc. Dear Sir, should the loan agreement be notarized and, if so, under what law? First of all, thank you for this information page. In 2014, I lent two lakhs to a family friend who thought he had promised to pay it back “soon.” Two years have passed, and he apologises incidentally when I ask him for my money. I managed to get him to write a PN (on white paper, signed by 2 letters of turnover, 2 witnesses also signed the PN) dating back to 2014. My question is, is this PN sufficient (I also have the electronic receipt for the bank transfer I made and also recorded conversations with him) to legally force him to return my money? I would hesitate to bring them to justice if success is not guaranteed. How long this type of litigation lasts on average for judgment. Thanks again and wait for your comments. 15.1 English is used in all correspondence and communications between the parties.

15.2 Cumulative rights All remedies of the lender under this contract, whether provided for or granted by law, civil law, common law, habit, trade or use, are cumulative and non-alternative and may be applied successively or simultaneously. 15.3 Loan Contract Advantage The loan agreement is binding on each party and its successors or heirs, directors, and must, if necessary, ensure the benefit of that party and its successors or heirs, directors. 15.4 Any delay in exercising or failing to exercise a right, power or remedy that rests with the lender under this agreement or other agreement or document does not infringe that right, power or remedy and cannot be construed as a waiver or tolerance for delay; Nor is the lender`s action or inaction regarding a delay or tolerance of a delay affecting or affecting the existence or inaction of a right, power or recourse of the lender with respect to another delay.

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