https://www.taxtmi.com/caselaws?id=200556 An instrument containing an unconditional promise to pay, with no order directing a drawee to pay, is a promissory note; the presence of the word "hundi" on the stamp or an endorsement marked "accepted" does not alter that character. The Bengal Money-lenders Act, 1940 was discussed as validly operating on the decree itself after the original liability had merged in it, so borrower-relief provisions could reopen the decree and grant instalment relief. The legislative power to regulate money-lending extended to such decree-based relief, with any effect on the underlying promissory note treated as incidental. The decree was therefore adjustable by ceasing post-decretal interest and allowing payment by instalments. en-us Tue, 11 Mar 1941 00:00:00 +0530 Wed, 04 Apr 2018 13:16:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200556 An instrument containing an unconditional promise to pay, with no order directing a drawee to pay, is a promissory note; the presence of the word "hundi" on the stamp or an endorsement marked "accepted" does not alter that character. The Bengal Money-lenders Act, 1940 was discussed as validly operating on the decree itself after the original liability had merged in it, so borrower-relief provisions could reopen the decree and grant instalment relief. The legislative power to regulate money-lending extended to such decree-based relief, with any effect on the underlying promissory note treated as incidental. The decree was therefore adjustable by ceasing post-decretal interest and allowing payment by instalments. Case-Laws Indian Laws Tue, 11 Mar 1941 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200556