https://www.taxtmi.com/caselaws?id=410798 Admission of signature on a promissory note triggers the statutory presumption of consideration under the Negotiable Instruments Act, 1881. A defence that the signed instrument was blank security for a chit transaction must be established by credible oral or documentary evidence on a balance of probabilities. Minor inconsistencies in witness testimony, particularly where evidence is recorded long after an old transaction, do not displace that presumption unless they affect the core transaction. Failure to produce independent evidence supporting alleged blank execution or misuse leaves the presumption unrebutted, and liability under the instrument follows. en-us Fri, 30 Apr 2021 00:00:00 +0530 Tue, 10 Aug 2021 08:57:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410798 Admission of signature on a promissory note triggers the statutory presumption of consideration under the Negotiable Instruments Act, 1881. A defence that the signed instrument was blank security for a chit transaction must be established by credible oral or documentary evidence on a balance of probabilities. Minor inconsistencies in witness testimony, particularly where evidence is recorded long after an old transaction, do not displace that presumption unless they affect the core transaction. Failure to produce independent evidence supporting alleged blank execution or misuse leaves the presumption unrebutted, and liability under the instrument follows. Case-Laws Indian Laws Fri, 30 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410798