https://www.taxtmi.com/caselaws?id=197730 An insufficiently stamped promissory note that embodies the entire loan transaction cannot be admitted to prove the debt, and the lender cannot bypass that statutory bar by relying on the original consideration where the contract is fully reduced to writing. Recovery on the underlying debt is available only if the note does not exhaust the whole agreement and the alternative character of the transaction is independently proved, such as where the note was merely collateral security or conditional payment. Equitable claims for money had and received, implied promise, unjust enrichment, or Section 70 of the Contract Act are likewise unavailable when they would require proof of the very transaction excluded from evidence. en-us Tue, 14 Nov 1972 00:00:00 +0530 Sat, 13 Jan 2018 12:55:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197730 An insufficiently stamped promissory note that embodies the entire loan transaction cannot be admitted to prove the debt, and the lender cannot bypass that statutory bar by relying on the original consideration where the contract is fully reduced to writing. Recovery on the underlying debt is available only if the note does not exhaust the whole agreement and the alternative character of the transaction is independently proved, such as where the note was merely collateral security or conditional payment. Equitable claims for money had and received, implied promise, unjust enrichment, or Section 70 of the Contract Act are likewise unavailable when they would require proof of the very transaction excluded from evidence. Case-Laws Indian Laws Tue, 14 Nov 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197730