JOINT PROMISSORY NOTE PAYABLE IN INSTALMENTS





On demand (or at sight, or, on presentment, or, after date), we jointly and severally hereby promise to pay to Sh _________S/o. Sh.____________ R/o. _____________ or order, the sum of Rs. ____________ (for value received) by instalments of Rs._____ per month with interest on each instalment at _________percent per annum until payment.

The first instalment with interest thereon to be paid on the seventh day of next month. Next and each succeeding instalment with interest thereon to be paid on the seventh day of each following month, until the whole of the said sum of Rs.__________ be re-paid.

Signatures, Name, and address of drawers.

(Stamp)

1. ________________

2. ________________

3. ________________