Promissory Note -- Execution when proved there is presumption of consideration - Two types of cases may arise - One where there is a denial as to the execution and pleading forgery and two, while admitting the instrument explain the circumstances - The presumptions follow in both the matters with variation...........
Promissory note -- Defendant is entitled to raise contradictory pleadings in defence such as forgery, not supported by consideration etc. - Such pleas have to be strictly scrutinised in a proper perspective within the limitations prescribed under the law and should not allow the defendant to go scot free with unsustained pleas - If execution is proved the presumption..........
Promissory note -- Consideration - Presumption - Where payment of money as consideration is mentioned in instrument itself and it is also case of party suing for recovery of money, presumption has to be raised, when maker of instrument has not denied it - Presumption is statutory presumption and once execution of promissory note is admitted, Court cannot refuse to raise it..........
Negotiable Instruments Act, 1881, Section 118(a) -- Promissory note - Once execution is proved there is presumption of consideration - The defendant can prove the non-existence of consideration by raising a probable defence - Once the defendant proves the initial onus of proof showing that the existence of consideration was improbable or doubtful or the same was illegal,..........
Negotiable Instruments Act, 1881, Section 138, 139 -- Loan taken of Rs.30 lakhs and promissory note executed - Amount not paid within six months as per memorandum of understanding - On repeated demands accused issued a cheque towards discharge of loan amount - Cheque dishonoured - Accused cannot escape by merely saying that cheque was given only as a security and that on..........
Negotiable Instruments Act, 1881, Section 118 -- Promissory note - Consideration - When execution is proved there is presumption of consideration, until the contrary is proved - Once the plaintiff pleads consideration different from the one found in negotiable instrument, the statutory presumption does not arise...........
Negotiable Instruments Act, 1881, Section 118 -- Promissory note -Consideration - Presumption - When execution is proved there is presumption of consideration until the contrary is proved...........
Promissory note -- Presumption under S.118 Negotiable Instruments Act is presumption of law - Presumption can be rebutted by direct or circumstantial evidence...........
Promissory note -- Where execution is admitted or proved, presumption is raised of consideration having passed - Defendant can rebut this presumption by proving that there is lack of consideration. (Negotiable Instruments Act, 1881, S.118)..........
