https://www.taxtmi.com/caselaws?id=463559 Section 118(a) of the Negotiable Instruments Act presumes consideration for a promissory note once execution is proved. The presumption remains rebuttable through credible direct, circumstantial, or probabilistic evidence showing that the pleaded consideration did not exist or was improbable. Surrounding agreements, correspondence, parties' conduct, and delivery of additional property established that the note represented consideration for transfer of possession rather than a cash loan. These facts supported legally enforceable consideration, so the presumption was not displaced and the challenge to the decree failed. en-us Tue, 06 Feb 1996 00:00:00 +0530 Sat, 06 Sep 2025 12:23:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463559 Section 118(a) of the Negotiable Instruments Act presumes consideration for a promissory note once execution is proved. The presumption remains rebuttable through credible direct, circumstantial, or probabilistic evidence showing that the pleaded consideration did not exist or was improbable. Surrounding agreements, correspondence, parties' conduct, and delivery of additional property established that the note represented consideration for transfer of possession rather than a cash loan. These facts supported legally enforceable consideration, so the presumption was not displaced and the challenge to the decree failed. Case-Laws Indian Laws Tue, 06 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463559