https://www.taxtmi.com/acts?id=7702 Section 118 presumes, until contrary proved, that negotiable instruments were made for consideration; that dated instruments were made on the date shown; that accepted bills were accepted within a reasonable time and before maturity; that transfers occurred before maturity; that endorsements appear in the order on the instrument; and that lost negotiable instruments were duly stamped. It further presumes the possessor to be a holder in due course, but places on the possessor the burden of proving holder-in-due-course status when the instrument was obtained from its lawful owner or custodian, or from maker or acceptor, by offence, fraud or unlawful consideration. en-us Sat, 19 Jan 2008 22:45:54 +0530 Sat, 19 Jan 2008 22:45:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=7702 Section 118 presumes, until contrary proved, that negotiable instruments were made for consideration; that dated instruments were made on the date shown; that accepted bills were accepted within a reasonable time and before maturity; that transfers occurred before maturity; that endorsements appear in the order on the instrument; and that lost negotiable instruments were duly stamped. It further presumes the possessor to be a holder in due course, but places on the possessor the burden of proving holder-in-due-course status when the instrument was obtained from its lawful owner or custodian, or from maker or acceptor, by offence, fraud or unlawful consideration. Act-Rules Indian Laws Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=7702