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Promissory Note

This document is a Promissory Note for a loan of Rs. 1,00,000 dated November 22, 2019, outlining the borrower's promise to repay the principal amount along with interest. It includes terms regarding payment, prepayment rights, liability for costs, and conditions for amendment and severability. The note is governed by the laws of Pakistan and binds the respective heirs and assigns of both parties.

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Uroosha Ismail
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91 views3 pages

Promissory Note

This document is a Promissory Note for a loan of Rs. 1,00,000 dated November 22, 2019, outlining the borrower's promise to repay the principal amount along with interest. It includes terms regarding payment, prepayment rights, liability for costs, and conditions for amendment and severability. The note is governed by the laws of Pakistan and binds the respective heirs and assigns of both parties.

Uploaded by

Uroosha Ismail
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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PROMISSORY NOTE

Rs. 1, 00, 000/- Dated: November, 22, 2019

FOR VALUED RECEIVED, the undersigned,


______________ (the borrower), located at
__________________________________________,
hereby promise to pay the order of the
_____________, (the lender), located at
_________________________________________, the
principal sum of Rs.________ (the principal amount),
together with the interest in accordance with the
terms set forth below.
1. Payment: the principle amount of this Promissory
Note together with accrued and unpaid intetesrt,
and all other charges, cost and expenses, is due
and payable on or before _________.
2. Prepayment: The borrower Maha Khalid has right
to prepay all or any part of the principal amount of
this notice.
3. Cost and fee: The Borrower shall be liable for all
costs, expenses, expenditures, incurred including,
without limitation, the complete legal cost of the
lender incurred by enforcing this note as result of
1
any default but the Borrower and such cost will be
added to the to the principal then outstanding and
shall be due and payable by the Borrower to the
Lender immediately upon demand of the Lender.
4. Joint and several liability: If there is more than one
borrower of this Note, the obligation of each
borrower shall be joint.
5. Amendment: This note may be amended or
modified, only by the written agreement, duly
signed by borrower and lender.
6. Severability: If any term, covenant, condition or
provision of the note is held by a court of
competent jurisdiction to be invalid, void or
unenforceable, it is the parties’ intention that such
provision be reduce in scope by the court only to
the extent deemed necessary by that court to
render the provision reasonable and enforceable
and the remainder of the provisions of the Note
will in no way be affected, impaired or invalidated
as a result.
7. This note will be construed in accordance with and
governed by the laws of Pakistan.
8. The Note will ensure to the benefit of and be
binding upon the respective heirs, executors,
administrators, successors and assigns of the
Borrower and Lender. The Borrower waives
presentment for payment, notice of non-payment,
protest and notice of protest.

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This agreement was signed the ____ day of ____________________, 20___ by the
following:

EXECUTANT:
Witnesses: -

1) Signature
Name:

2) Signature
Name:

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