Borrower who want more time and don't have the intent of paying offers blank cheques. This does offer some condolence to the lender for time being but not the money itself. This cheque can be used against the writer of this cheque if it gets bounced.
For lender to be safe and willing to take legal action in case of default of payment must definitely take a blank cheque for the borrower and use it for proving his claim once the borrowers fails in paying his sum of money.
Live before you leave.
But if a person has borrowed money from any person and he says this, it means he is a big liar or fraud.
I think nobody should delay if payment is due and he is in a position to pay debt also. It is a painful trait of a person that he invents a new pretext to delay the payment to a person who succoured him when he needed money.
If someone is ready to give a signed blank cheque, it can be taken immediately. He will legally be bound.
K Mohan @ Moga
'Idhuvum Kadandhu Pogum "
Even this challenging situation would ease
I agree that he intends to delay but he will never give a signed blank cheque, if you depict his cheque in your bank account and suppose it is bounced for not having a sufficient amount he will drag into court to face legal trials. I don't think if someone would like to face this unwanted situation.
'Mastering others is strength. Mastering yourself is true power'. -Lao Tzu
No life without Sun
Knowledge is power.