Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Page of 4784
Press 'Enter' after typing page number.
861 to 880 of 95673 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
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
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
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.
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.