JUDGMENT :

The appeal is filed against the judgment and decree dated 19-9-2003 in O.S.No.17 of 2000 passed by the learned Principal Senior Civil Judge, Tenali, Guntur District. The suit is filed for recovery of Rs.1,89,084/- being the amount of principal and interest due on a promissory note dated 13-02-1997 executed by the defendant in favour of the plaintiff’s transferor for Rs.1,10,000/- payable with interest at 24% per annum and for costs.

2. The case of the plaintiff as narrated in the plaint, in brief, is as follows:

It is pleaded that the defendant borrowed a sum of Rs.1,10,000/- from one Talasila Srinivasa Rao on 13-02-1997 for the purpose of the marriage of his sister in Repalle agreeing to repay the same with interest at 24% per annum with yearly rests either to the said Srinivasa Rao or to his order when demanded and the defendant executed a promissory note in favour of the said Srinivasa Rao on the same day. The defendant failed to repay the suit promissory note debt to the said Srinivasa Rao in spite of several demands made by him. The said Talasila Srinivasa Rao required money and hence he received a sum of Rs.1,40,000/- from the plaintiff on 15-12-1999 and endorsed the