1921. Present : Schneider A.J.

MEERA SAIBO v. UDUMA LEBBE.

116-C. R. Dandagamuwa, 4,503.

Promissory note-Interest payable monthly-Principal and interest to be paid if interest is not so paid-Is note payable on demand ?-Stamp duty.

A document purporting to be a promissory note set out the reasons why the money was borrowed, and proceeded to state that in failure of so paying the interest every month, the principal and interest so due shall be paid to the creditor, and that the note shall be received back. The note was stamped with a six-cent stamp.

The Commissioner held that the note was not properly stamped' as the note was not payable on demand, but only upon failure to pay interest " every month."

Held, that the note was payable on demand, and that it was properly stamped.

THE facts appear from the judgment.

Arulanandan, for appellant.

July 22, 1921. SCHNEIDER A.J.-

The decision of this appeal turns upon the interpretation to be given to the document marked P 1 which is as follows: "The promissory note, written and granted to Neina Meera Saibu of Elabodagama in Katugampola korale west, in the District of Kurunegala, by Uduma