https://www.taxtmi.com/caselaws?id=299667 Execution of a private negotiable instrument must be proved before any statutory presumption of consideration can arise, so mere production or exhibit marking is insufficient where the signatures of drawer and acceptor are unproved. Authority under a power of attorney is construed strictly, and it does not extend to an unauthorised co-acceptance or guarantee unless expressly or by necessary implication authorised; the bank was not bound on that basis. Presentment for payment to the named acceptor is mandatory, and non-presentment is fatal unless liability is otherwise established. The decree for the plaintiff was set aside and the suit dismissed. en-us Tue, 03 Apr 2001 00:00:00 +0530 Fri, 24 Dec 2021 17:39:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299667 Execution of a private negotiable instrument must be proved before any statutory presumption of consideration can arise, so mere production or exhibit marking is insufficient where the signatures of drawer and acceptor are unproved. Authority under a power of attorney is construed strictly, and it does not extend to an unauthorised co-acceptance or guarantee unless expressly or by necessary implication authorised; the bank was not bound on that basis. Presentment for payment to the named acceptor is mandatory, and non-presentment is fatal unless liability is otherwise established. The decree for the plaintiff was set aside and the suit dismissed. Case-Laws Indian Laws Tue, 03 Apr 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299667