1. Plaintiff in O.S. No. 941 of 1994 on the file of the District Munsifs Court, Tirupur, who succeeded before the learned trial Judge, but lost before the first Appellate Court, is the Appellant in the above Second Appeal. The suit was filed for recovery of a sum of Rs. 4,752/- with subsequent interest, due on a promissory note dated 27.10.1970 admittedly executed by the defendant-respondent herein, in favour of Uma Investments Private Limited, Coimbatore, with whom the defendant has entered into and was subscribing to a chit of the value of Rs. 10,000/- on and from 9.2.1970. The defendant became a successful bidder in the auction held by the said chit company and while drawing the prized amount has executed the promissory note in question for Rs. 8,250/- to ensure regular payment of the balance of instalments. But, it may be noticed at this stage since the said fact is vital and relevant for determination of what is projected before this Court, the printed promissory note reads that on demand, the defendant jointly and severally promised to pay to Uma Investments Private Limited or their order the sum of Rs. 8,250/- bearing interest at 12% per annum for the value receiv