PROMISSORY NOTES - PROBLEMS -1

• WHAT IS PROMISSORY NOTE = AN UNCONDITIONAL UNDERTAKING TO REPAY THE DEBT WITH OR WITHOUT INTEREST, ON DEMAND TO THE PLAINTIFF [ WHO FILED THE SUIT FOR RECOVERY]IS CALLED A PROMISSORY NOTE; WHAT IS DEBT = DEBT MAY BE PRESENT OR PAST CONSIDERATION ; MAY BE CASH OR KIND ,SHOULD NOT BE TAINTED WITH ILLEGALITY , BORROWED OR RECEIVED OR TAKEN BY THE DEFENDANT FROM THE PLAINTIFF OR FROM HIS AUTHORIZED PERSON; PROFORMA OF PRO-NOTE = THERE IS NO FIXED PROFORMA FOR PRO-NOTE. THE ESSENTIAL WORDS ARE " I, PROMISED TO REPAY THE DEBT ON DEMAND TO YOU OR TO YOUR ORDER, WITH OR WITHOUT INTEREST"; GENERAL MISTAKES = CORRECTIONS OR OVER WRITINGS IN DATES, AMOUNTS, INTEREST COLUMNS . EXCEPT IN INTEREST COLUMN, OTHER COLUMNS CORRECTIONS OR OVERWRITING MAY BE CONSIDERED AS MATERIAL ALTERATIONS ; REQUIRED STAMP = THE MAXIMUM VALUE OF THE STAMP IS 25 PAISE;AND THE PRO NOTE MAY BE ENGROSSED ON NON-JUDICIAL STAMP ALSO. NOT ONLY REVENUE STAMP, A NON-JUDICIAL STAMP OF ADHESIVE ALSO CAN BE AFFIXED BUT NOT POSTAL STAMP. HOW TO PROVE THE PRO NOTE = BY PRODUCING THE PRO NOTE AND ALONG WITH PLAINTIFF, ONE ATTESTER OR SCRIBER MUST BE EXAMINED WHEN IT WAS DENIED.; INGREDIENTS TO PROVE = EXECUTION, PASSING OF CONSIDERATION WHEN DENIED BY THE DEFENDANT ; HOW TO DISPROVE = BY EXAMINING ATTESTER OR SCRIBER WHEN CONSIDERATION NOT PASSED AND IN CASE OF FORGERY BY EXAMINING THOSE PERSONS OR BY SENDING TO EXPERT OPINION;