BOND BY AN HEIR WITH SURETY FOR AN EXISTING DEBT
Table of Contents
<h2>BOND BY AN HEIR WITH SURETY FOR AN EXISTING DEBT</h2>
WHEREAS[P1] ………………… granted an advance of Rs ……………….repayable with interest
at……………. per cent per annum on……………… to my late father A son of Shri
resident of ……………
AND WHEREAS [P2]my late father had executed a bond in favour of the said ………….. on
dated…………..
AND WHEREAS [P3]a sum of Rs…………….. is due to the said ………………. on account of the
principal and interest due under the aforesaid bond
Dated…………… and I being the heir and legal representative of the aforesaid A, owe the aforesaid
sum of Rs …………..to the said…………..
AND WHEREAS [P4]the said has demanded the repayment of the said amount, which I am not in a
position to pay at the payment of present moment, and
WHEREAS[P5] the said…………. has required me to execute a bond in its favour
NOW [P6]IN CONSIDERATION OF THE aforesaid liability, 1, C, both in my individual capacity and as heir
of A hereby promise to pay to the said …………….. in accordance with the covenants of my late
father A, contained in the bond dated …………..
NOW AND I further bind myself to the terms and conditions contained in the said bond dated
………….. executed by my late father A in favour of the said …………… which shall
apply to me being the heir and legal representative of the late A.
Signed by me at ………… this ………… day of ……………… 20 …..
WITNESSES
1 . ………………….
2. Signature
[P1]Recitals Creditor granted loan to obligee’s father
[P2]Obligee’s father executed
bond favouring creditor
[P3]Obligee liable to the debt as legal heir
[P4]Creditor demanded debt, which obligee can not pay at, present
[P5]Creditor require obligee to
Execute bond
[P6]Obligation
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