Promissory note presumption of consideration survives blank-signature and income-tax non-disclosure objections when admissions and attesting evidence ...
Dishonor of Cheque - Once the signature is admitted and execution is proved by the appellant by examining the independent witnesses, there is a presumption that the appellant has executed a promissory note for the valuable consideration. Therefore, under Section 118 of the Negotiable Instruments Act, no doubt, the said presumption is rebuttable presumption. The appellant has not rebutted the said presumption in the manner known to law. - HC
Dishonor of Cheque - Once the signature is admitted and execution is proved by the appellant by examining the independent witnesses, there is a presumption that the appellant has executed a promissory note for the valuable consideration. Therefore, under Section 118 of the Negotiable Instruments Act, no doubt, the said presumption is rebuttable presumption. The appellant has not rebutted the said presumption in the manner known to law. - HC
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