https://www.taxtmi.com/caselaws?id=96931 Promissory note law: a negotiable instrument executed solely in an agent's name does not bind the company unless the instrument on its face or by necessary inference shows it was executed for the company; mere benefit to the company or after the fact evidence of purpose is insufficient, so the company is not liable and the suit against it fails. Joint family liability: where the promissory note was signed by the manager of a joint Hindu family, the family property is chargeable to the creditor and coparceners may be decreed liable to the extent of their shares; the Official Assignee's representation does not bar proceeding against those shares. en-us Fri, 26 Oct 1945 00:00:00 +0530 Fri, 13 Jan 2012 12:02:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96931 Promissory note law: a negotiable instrument executed solely in an agent's name does not bind the company unless the instrument on its face or by necessary inference shows it was executed for the company; mere benefit to the company or after the fact evidence of purpose is insufficient, so the company is not liable and the suit against it fails. Joint family liability: where the promissory note was signed by the manager of a joint Hindu family, the family property is chargeable to the creditor and coparceners may be decreed liable to the extent of their shares; the Official Assignee's representation does not bar proceeding against those shares. Case-Laws Companies Law Fri, 26 Oct 1945 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96931