https://www.taxtmi.com/caselaws?id=766868 Section 118(a) of the Negotiable Instruments Act creates a presumption that a promissory note and cheque were executed for consideration, but that presumption can be rebutted on a preponderance of probabilities. Here, the defendant admitted the signatures yet relied on surrounding circumstances, witness inconsistencies, and the lack of convincing proof that the alleged loan was actually advanced. The court noted that the plaintiff's bank statements did not establish withdrawal or passing of consideration on the relevant date. The defendant therefore raised a probable defence and displaced the initial presumption, after which the burden shifted back to the plaintiff, who failed to prove consideration. en-us Mon, 10 Feb 2025 00:00:00 +0530 Thu, 06 Mar 2025 07:34:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766868 Section 118(a) of the Negotiable Instruments Act creates a presumption that a promissory note and cheque were executed for consideration, but that presumption can be rebutted on a preponderance of probabilities. Here, the defendant admitted the signatures yet relied on surrounding circumstances, witness inconsistencies, and the lack of convincing proof that the alleged loan was actually advanced. The court noted that the plaintiff's bank statements did not establish withdrawal or passing of consideration on the relevant date. The defendant therefore raised a probable defence and displaced the initial presumption, after which the burden shifted back to the plaintiff, who failed to prove consideration. Case-Laws Indian Laws Mon, 10 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766868