https://www.taxtmi.com/caselaws?id=384121 A cheque issued for a time-barred debt does not satisfy Section 138 of the Negotiable Instruments Act because the provision applies only to a legally enforceable debt or liability. The court held that limitation had expired before the cheque was issued, and there was no valid acknowledgment in writing within time to revive the claim under Section 18 of the Limitation Act, 1963. It further held that the Section 139 presumption is rebuttable and does not presume a legally recoverable debt; the respondent's probable defence that the underlying liability was already time-barred rebutted the presumption. The acquittal was therefore upheld. en-us Wed, 31 Jul 2019 00:00:00 +0530 Wed, 07 Aug 2019 07:45:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384121 A cheque issued for a time-barred debt does not satisfy Section 138 of the Negotiable Instruments Act because the provision applies only to a legally enforceable debt or liability. The court held that limitation had expired before the cheque was issued, and there was no valid acknowledgment in writing within time to revive the claim under Section 18 of the Limitation Act, 1963. It further held that the Section 139 presumption is rebuttable and does not presume a legally recoverable debt; the respondent's probable defence that the underlying liability was already time-barred rebutted the presumption. The acquittal was therefore upheld. Case-Laws Indian Laws Wed, 31 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384121