B SYAMSUNDER
Koduri Sitarama Rao – Appellant
Versus
Matangi Victoria – Respondent
JUDGMENT :
Bandaru Syamsunder, J.
The defendants in OS.No.628 of 2005 on the file of Principal Junior Civil Judge’s Court, Tadepalligudem are the appellants. The respondents are the plaintiffs in the suit.
2. The appellants and the respondents hereinafter referred to as defendants and plaintiffs as arrayed before the trial Court.
3. The plaintiffs instituted the suit against the defendants for recovery of promissory note debt with interest, amounting to Rs.85,000/- and costs.
4. The case of the plaintiffs in brief is that one late Mr.K.Gopala Krishna, and his son Mr.Sita Rama Rao (1st defendant) jointly borrowed a sum of Rs.50,000/- from late Mr.M.Arjuna, who is the husband of the 1st plaintiff and father of the plaintiff Nos.2 to 4 for their business purpose, agreeing to repay the same with interest at 24% per annum and executed a demand promissory note in favour of late Mr.M.Arjuna on 01.12.2002. The plaintiffs submit that the 2nd defendant is the scribe of promissory note, who is no other than one of sons of 1st executants late Mr.K.Gopala Krishna. It is also the contention of the plaintiffs that on 09.06.2005 Mr.M.Arjuna died intestate, leaving behind them as legal heirs, due to tha
Duggineni Seshagiri Rao vs. Kothapalli Venkateswara Rao. 2001 (6) ALT 95
A promissory note is enforceable even if a Succession Certificate is not produced at the time of filing the suit, provided it can be produced later for execution.
A promissory note can be enforced without a succession certificate if its validity is established, and the absence of such a certificate does not render the decree a nullity.
The burden lies on the defendants to rebut the presumption under Sec. 118 of the Negotiable Instruments Act by adducing convincing evidence to prove the non-existence of consideration.
The court reaffirmed that the burden of proof regarding the authenticity of a promissory note lies with the party alleging forgery, and the evidence must be evaluated on the preponderance of probabil....
(1) Once signature in promissory note is admitted, presumption would go to support execution of Pronote.(2) Stamp paper purchased by or for use of a person, can be used by that person or his legal re....
The execution of a promissory note must be proven for the legal presumption of consideration to apply; failure to establish execution results in dismissal of the claim.
The appellate court found the promissory note valid and supported by consideration, reversing the trial court's dismissal of the suit.
The presumption of validity under Section 118 of the Negotiable Instruments Act requires defendants to provide evidence to rebut the execution of a promissory note once established by the plaintiff.
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