https://www.taxtmi.com/caselaws?id=446132 Execution of a promissory note, once proved by genuine signature and expert support, attracts the statutory presumption of consideration under Section 118 of the Negotiable Instruments Act, and the defendant must rebut that presumption with credible evidence; here, the presumption was not displaced. A recovery claim could also be enforced against estate inherited by legal heirs, limited to the assets received from the deceased, where exhaustion of that estate was not proved. The suit was within limitation, but an alleged acknowledgment by the first defendant was not established. Recovery was confined to the amount independently proved due, and pre-decree interest was refused in the absence of a contractual stipulation, though subsequent interest was allowed. en-us Tue, 07 Nov 2023 00:00:00 +0530 Mon, 27 Nov 2023 07:14:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446132 Execution of a promissory note, once proved by genuine signature and expert support, attracts the statutory presumption of consideration under Section 118 of the Negotiable Instruments Act, and the defendant must rebut that presumption with credible evidence; here, the presumption was not displaced. A recovery claim could also be enforced against estate inherited by legal heirs, limited to the assets received from the deceased, where exhaustion of that estate was not proved. The suit was within limitation, but an alleged acknowledgment by the first defendant was not established. Recovery was confined to the amount independently proved due, and pre-decree interest was refused in the absence of a contractual stipulation, though subsequent interest was allowed. Case-Laws Indian Laws Tue, 07 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446132