Execution of a promissory note proved by admitted signatures, a...
Promissory note presumption of consideration survives blank-signature and income-tax non-disclosure objections when admissions and attesting evidence prove execution
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Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Execution of a promissory note proved by admitted signatures, a handwritten reply, and attesting evidence attracts the presumption of consideration, and a blank signed note may operate as an inchoate instrument unless rebutted. The forgery plea failed because no expert or other rebuttal evidence was produced, and the admission in the pre-suit reply was treated as the best evidence of liability. Non-disclosure of the transaction in income tax returns, especially when not specifically pleaded, does not by itself make the debt unenforceable between the parties or defeat recovery on the proved note.
Note: It is a system-generated summary and is for quick reference only.