https://www.taxtmi.com/caselaws?id=182247 Section 118 of the Negotiable Instruments Act creates a rebuttable presumption that a negotiable instrument or endorsement was made for consideration. That presumption can be displaced not only by direct evidence but also by circumstantial evidence and by adverse inference under Section 114 of the Evidence Act where a party withholds material documents or available testimony within its possession. On the facts, the appellant's failure to produce relevant accounts, a list of articles, and supporting oral evidence was treated as sufficient to rebut the presumption. The endorsement was therefore not proved to be supported by consideration. en-us Thu, 16 Mar 1961 00:00:00 +0530 Fri, 06 May 2016 10:37:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182247 Section 118 of the Negotiable Instruments Act creates a rebuttable presumption that a negotiable instrument or endorsement was made for consideration. That presumption can be displaced not only by direct evidence but also by circumstantial evidence and by adverse inference under Section 114 of the Evidence Act where a party withholds material documents or available testimony within its possession. On the facts, the appellant's failure to produce relevant accounts, a list of articles, and supporting oral evidence was treated as sufficient to rebut the presumption. The endorsement was therefore not proved to be supported by consideration. Case-Laws Indian Laws Thu, 16 Mar 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182247