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of <h1>Section 118 of Negotiable Instruments Act: Key Presumptions on Validity and Holder Status Explained</h1> Section 118 of the Negotiable Instruments Act, 1881, outlines presumptions regarding negotiable instruments unless proven otherwise. It presumes that such instruments are made or transferred for consideration, are dated accurately, accepted within a reasonable time, transferred before maturity, endorsed in order, and duly stamped if lost. Additionally, it presumes the holder is a holder in due course. However, if the instrument was obtained through offense, fraud, or unlawful consideration, the holder must prove their status as a holder in due course.
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