| Register
Home | Discussion Forum | Communities | Professional Search | Law Dictionary | Bare Acts | Law Schools | State Bare Acts | Free Judgement Search | Law quotes
Articles  |    Humor    |    Law Digest
Bare acts search

  Bookmark and Share
Bare acts > Negotiable Instruments Act, 1881 > Section 118


118. Presumptions as to negotiable instruments.- Until the contrary is proved, the following presumptions shall be made:

(a) of consideration : that every negotiable instrument was made or drawn for consideration, and that every such instrument, when it has been accepted, endorsed, negotiated ortransferred, was accepted, endorsed, negotiated or transferred for consideration;

(b) as to date : that every negotiable instrument bearing a date was made or drawn on such date;

(c) as to time of acceptance : that every accepted bill of exchange was accepted within a reasonable time after its date and before its maturity;

(d) as to time of transfer : that every transfer of a negotiable instrument was made before its maturity;

(e) as to order of endorsements : that the endorsements appearing upon a negotiable instrument were made in the order in which they appear thereon;

(f) as to stamps : that a lost promissory note, bill of exchange or cheque was duly stamped;

(g) that holder is a holder in due course : that the holder of a negotiable instrument Is a holder in due course; provided that, where the instrument has been contained from Its lawful owner, or from any person in lawful custody thereof, by means of an offence or fraud, or has been obtained from the maker or acceptor thereof by means of an offence or fraud, or for unlawful consideration, the burden of proving that the holder is a holder in due course lies upon him.





A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z



Quick Links          
Family Laws Insurance Laws Environmental law Tax Law FDI  
Company Law Telecommunication Law Labour Laws Central Rules RBI  
Business & Commercial Laws Consumer laws Corporate laws Criminal laws SEBI  
Intellectual Property law Media & Press laws Pharma & Medical laws Property law FEMA  
Debt Recovery Laws Amendments Professional law Banking Laws Legal Links  
  Partner Site India No 1 Business Directory and Classified Portal Your Online Library




Privacy PolicyDisclaimer | Link partners

Copyright @2010