https://www.taxtmi.com/caselaws?id=300404 Admission of execution of a promissory note attracted the statutory presumption of consideration, shifting the burden to the defendant to prove absence of consideration or invalidity of the endorsement. Oral evidence from attestors and surrounding circumstances supported the plaintiff's case, and the transferee was treated as a holder in due course entitled to enforce the instrument. The defendant's rebuttal evidence was found unreliable, so the presumption was not displaced and the endorsement was upheld as valid. The concurrent factual findings were left undisturbed in second appeal, and the money decree was maintained. en-us Wed, 04 Sep 2013 00:00:00 +0530 Mon, 31 Jan 2022 11:57:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300404 Admission of execution of a promissory note attracted the statutory presumption of consideration, shifting the burden to the defendant to prove absence of consideration or invalidity of the endorsement. Oral evidence from attestors and surrounding circumstances supported the plaintiff's case, and the transferee was treated as a holder in due course entitled to enforce the instrument. The defendant's rebuttal evidence was found unreliable, so the presumption was not displaced and the endorsement was upheld as valid. The concurrent factual findings were left undisturbed in second appeal, and the money decree was maintained. Case-Laws Indian Laws Wed, 04 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300404