https://www.taxtmi.com/highlights?id=82130 The trial court erroneously invoked the presumption u/s 118 of the Negotiable Instruments Act, 1881, without considering the contradictions in the evidence of the plaintiff's witnesses and the surrounding circumstances. The presumption of consideration upon execution of a promissory note is rebuttable. The defendant's version, supported by circumstantial evidence and probabilities, rebutted the presumption. The plaintiff failed to establish the passing of consideration through oral evidence alone. The High Court allowed the appeal, setting aside the trial court's decree for payment, as the findings disregarded the impact of evidence on record. en-us Fri, 11 Oct 2024 08:58:05 +0530 Fri, 11 Oct 2024 08:58:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=82130 The trial court erroneously invoked the presumption u/s 118 of the Negotiable Instruments Act, 1881, without considering the contradictions in the evidence of the plaintiff's witnesses and the surrounding circumstances. The presumption of consideration upon execution of a promissory note is rebuttable. The defendant's version, supported by circumstantial evidence and probabilities, rebutted the presumption. The plaintiff failed to establish the passing of consideration through oral evidence alone. The High Court allowed the appeal, setting aside the trial court's decree for payment, as the findings disregarded the impact of evidence on record. Highlights Indian Laws Fri, 11 Oct 2024 08:58:05 +0530 https://www.taxtmi.com/highlights?id=82130