PRESUMPTIONS AS TO NEGOTIABLE INSTRUMENT {sec 118}
1. CONSIDERATION:-Every negotiable instrument was made, accepted, endorsed or drawn for consideration
2. DATE: – every negotiable instrument bearing a date was made or drawn on that date.
3. Time of acceptance: – every bill of exchange was accepted within a reasonable time after the date mentioned on it but before of its maturity.
4. Time of transfer:- every transfer of negotiable instrument was made before its maturity.
5. STAMP:-lost promissory note, bill of exchange or cheque was duly stamped.
6. HDC: – that the holder of N/I is a HDC.
0 Comments