(1) This order will dispose of issue No. 1 which is reproduced as below.

1. Is the suit not maintainable because the document on which the suit is based is not a promissory note but a bond which too is not duly stamped? 0. P. D.

The document which is the subject matter of this issue reads as follows

"Rs. 40,000/- Dated ¦¦¦¦

On demand I promise to pay to Sh. Suraj Parkash Kapoor, son of Sh Jawalla Ditta kapoor, resident of Puranimandi Jammu the sum of 40,000 (Rupees forty thousand) for the value received today.

Sd/-

(Om Parkash)

Partner M/s J. D. Kapoor

& Sons, City Chowk. Jammu

Witness :

Sd/- (Harbans Lal Bargotra)

290 New Plots, Jammu.

3-1-78

(2) Whereas the plaintiff says that it is a promissory note the defendant says that it is a bond. In case the document is held to be a promissory note, then there is no dispute that it would be properly stamped and, therefore, admissible in evidence. Section 2 (22) of the Stamp Act which defines promissory note reads as under:

"(22) "Promissory note" means a promissory note as defined by the Negotiable Instruments Act; it also includes a note promising the payment of any sum of money out of any particular fund which may or may not be available, o

Click Here to Read the rest of this document