Judgment Search Results Home > Cases Phrase: negotiable instruments act 1881 section 4 promissory note Page 5 of about 13,847 results (0.118 seconds)

(Nawab Major Sir) Mohammad Akbar Khan Vs. Attar Singh and Others

Court : Privy Council

..... section "promissory note" means a promissory note as defined by the negotiable instruments act, 1881 ..... note coupled with an account, and in no way resembled a promissory note, or anything capable of being a negotiable instrument ..... negotiable instrument means a promissory note ..... promissory note" is an instrument in writing (not being a bank note or a currency note) containing an unconditional undertaking, signed by the maker, to pay a certain sum of money only to, or to the order of, a certain person or to the bearer of the instrument ..... if this document is otherwise within the definition of a promissory note, it would seem that it must be negotiable, for there appear to be no words prohibiting transfer or indicating an ..... instruments respectively marked (c) are not promissory notes ..... instruments respectively marked (a) and (b) are promissory notes ..... on the broad ground that such a document as this is not and could not be intended to be brought within a definition relating to documents which are to be negotiable instruments. ..... in which the document came into existence he decided this issue as a preliminary point in favour of the defendants, holding that the document was a promissory note, was improperly stamped, and therefore was inadmissible in evidence for any purpose under s. ..... promissory note appears to coincide with the grounds of decision in 21 qbd 352 (2), where the english court of appeal found themselves bound to give a restricted meaning to the much wider definition in the english stamp act. .....

Bharat Nidhi Limited Vs. Shital Prasad Jain

Court : Delhi

Reported in : 2000IVAD(Delhi)485; 2000(54)DRJ1

..... p-3 being payable on demand is a promissory note within the meaning of section 4 of the negotiable instruments act, 1881 and a presumption is attached to it that it was drawn for consideration under section 118 of the said act. ..... jain further told the defendant to give certain writings including the purported promissory note and as directed by him, certain writings including the purported promissory note were executed in good faith by the defendant in favor of the plaintiff ..... in the amended written statement by way of preliminary objections it is alleged that the suit is bad for non-joinder of ashok kumar jain and shanti prasad jain; that the document purported to be the promissory note, is not a promissory note nor is it stamped sufficiently; that the alleged promissory note is devoid of consideration and is not legally enforceable. ..... under article 49 of the stamp act, 1899 duty chargeable in respect of a promissory note payable on demand exceeding the amount of rs ..... 2 lacs to the defendant who in consideration thereof executed a promissory note dated 23rd december, 1974 and also a receipt dated 24th december ..... jain the defendant gave certain writings including the promissory note in question to the plaintiff company, that ashok ..... p-3 is the purported promissory note for rs.2 lacs bearing three revenue stamps of the denomination of 0.10 paisa ..... whether the promissory note in suit is without consideration and otherwise unenforceable for the reasons stated in the written statement opd .....

Manchersha Ardesar Vs. Govind Ganesh Joshi

Court : Mumbai

Reported in : AIR1930Bom424; (1930)32BOMLR1035

..... first defendant's family might have been held liable as well as himself on the ground that the first defendant represented them ; but in the case of a promissory note, no such representation can be pleaded, unless the persons said to be represented appear on the face of the document by name [vide section 27 of the negotiable instruments act).the matter went in appeal under letters patent and was heard by a bench of three judges, two of whom had previously heard the appeal and shephard j. ..... section 1 of the negotiable instruments act does not exempt from the operation of the act promissory notes executed by hindus. ..... confining my attention to the provisions of the negotiable instruments act, it will follow that even though the maker of the promissory notes may be the manager of a joint hindu family, the promissory notes cannot bind the other members. ..... he is subject, may bind himself and be bound by the making, drawing, acceptance, indorsement, delivery and negotiation of a promissory note, bill of exchange or cheque.then section 27 enacts thus :-every person capable of binding himself or of being bound, as mentioned in section 26, may so bind himself or be bound by a duly authorised agent acting in his name.combining the two sections, it will follow that while section 26 treats of the capacity of persons to bind themselves as parties to negotiable instruments, section 27 treats of the authority or power of a person to contract on behalf of another so as to bind him .....

Shantaram Vithal Wakde Vs. Shantaram Bhagwan Sinkar

Court : Mumbai

Reported in : AIR1938Bom451; (1938)40BOMLR964

..... the ' holder ' of a promissory note, which is defined in section 8 of the negotiable instruments act as ' any person entitled in his own name to the possession thereof and to receive or recover the amount thereon from the parties thereto', is the only person entitled to maintain a suit for the recovery of the money due on the note. ..... a coparcener who becomes entitled by survivorship to the joint family property of the family to which the deceased holder of a promissory note belongs, cannot sue on the instrument, inasmuch as he cannot give a valid and proper discharge to the maker. ..... it is conceded that the plaintiffs might have sued to recover the debt, apart from the promissory note, but they did not do so, and their application to amend the plaint so as to enable them to do so was properly rejected because at the time of the application that claim was ..... 405 the settled practice was that suits by the surviving coparceners on the basis of promissory notes in favour of the manager of the family were not considered untenable, and succession certificates were ..... the question is whether they have a cause of action on the promissory note itself, and whether the production of the succession certificate makes any difference in ..... the act regulates the issue and negotiation of bills, notes, and cheques, but does not provide for the transmission of rights in such instruments by operation of law or by ..... his son, to recover the amount of the promissory note in their capacity of surviving coparceners. .....

R.P. Koneti Naicker and Two ors. Vs. J. Gopala Ayyar and anr.

Court : Chennai

Reported in : (1915)ILR38Mad482

..... section 28 of the indian act (negotiable instruments act, 1881) makes the party who signs liable unless there is, on the note, an indication that he signs as agent, or that he does not intend to incur personal ..... indian negotiable instruments act was passed in 1881 one year before the english bills of exchange act, 1882 ..... elsewhere he observes that as the indian act, in so far as it deals with any subject, adopts and enforces english law almost in its entirety, it is conceived that in matters relating to negotiable instruments which are untouched by the act (and which do not come within the scope of the indian contract or evidence acts) english law would be looked to and followed as a ..... in his introduction to his first edition of the indian act that it reproduces in a statutory form the english common law of negotiable instruments with scarcely any modifications. ..... is not stated that the power-of-attorney included a power to sign promissory notes, or that the note was signed in pursuance of the power. ..... main question we have to determine is whether the party who signed the promissory note in question as maker is personally liable thereon. ..... the point is not free from doubt, but on a careful consideration of the terms of the promissory note i and of opinion that there is no indication therein that the maker signed as an agent or did not intend to incur personal liability.oldfield, ..... promissory note executed to you both, (1) gopalaiyar and (2) nagasamier, sons of soothi seshaiyar, residing in .....

Central Bank of India Vs. Tarseema Compress Wood Manufacturing Company ...

Court : Mumbai

Reported in : AIR1997Bom225; 1997(2)BomCR267

..... when once, the execution of exhibits v and z are either admitted or proved then the presumption arises a under the negotiable instruments act the promissory notes are supported by consideration, the burden shifts on to the defendants to prove that the promissory notes are not supported by the consideration. ..... on the other hand, the learned counsel for the plaintiff submitted that even though no payments are made, under the promissory notes of 1978, they were taken for the outstanding dues by the firm and hence, the suit is within time since a contract for a past consideration is a valid contract.17. ..... since admittedly no consideration was paid, either on the date of the two promissory notes exhibits v and z or thereafter, the argument that fourth defendant has not received consideration appears to have some force.however, in the case this type, we have to find out the legal implication of fourth defendant becoming ..... it was, therefore, argued on behalf of the defendants that these two promissory notes are not supported by consideration since admittedly, no amount was paid either on 15-6-1978 or any time thereafter. ..... this is no evidence at all to rebut the presumption available to the plaintiff under section 118 of the negotiable instruments act. ..... section 25 of the contract act clearly provides that past consideration is good consideration for a valid contract. .....

Dorabji Nowrosjee Pajnigar Vs. Jamshedji Pestonji Mehta

Court : Mumbai

Reported in : AIR1936Bom218; (1936)38BOMLR395; 163Ind.Cas.300

..... the question turns upon section 69 of the indian negotiable instruments act, which is in these terms:-a promissory note or bill of exchange made, drawn or accepted payable at a specified place must, in order to charge the maker or drawer thereof, be presented ..... either at madras or at any other place, and it was held that the creditor had no right to sue without presentment being first made, and that the word ' place ' in sections 68 and 69 of the negotiable instruments act must be construed as including ' places ', as it would be anomalous to require presentment if one place is mentioned, but none if two places are mentioned. ..... that this promissory note is a note payable at a specified place within the meaning of that section is, in ..... present promissory note do not, in my opinion, fall within the section ..... written statement is the first paragraph in which the defendant submits that the promissory note in suit not having been presented for payment, the suit is not maintainable; and the only issue raised is whether the suit is maintainable having regard to the fact that the promissory note in suit has not been presented for payment to the defendant. ..... it is true that the promissory note provides that it is payable at bombay or poona, and of course the promissory note could have been presented at bombay or poona; but the promissory note is not payable only at bombay or poona, being payable elsewhere, that is, at a place not specified, and it does not make it incumbent upon the promisee .....

Dori Lal Vs. Sewak Ram and anr.

Court : Allahabad

Reported in : AIR1915All261; 29Ind.Cas.988

..... according to section 78 of the negotiable instruments act, only the holder of a promissory note can receive payment of the same so as to discharge the maker, and this section applies whether the promissory note in question was negotiable or not. ..... the 'holder' of a promissory note is defined in section 8 of the same act, and means a person entitled in itis own name to the possession thereof. ..... this suit was brought upon a promissory note executed in favour of one ram narain. ..... after the suit had been decreed by the first court, it was dismissed by the learned subordinate judge of pilibhit, on the ground that only the ostensible payee can maintain a suit upon a promissory note. ..... the subordinate judge has supported himself by authority of a madras case, in respect of which it is contended here that the learned judges who decided that case were referring specifically to a negotiable instrument as defined in section 13 of the negotiable instruments act (xxvi of 1881). ..... in the absence of any ruling to the contrary, i am certainly not prepared to hold that the learned subordinate judge acted with material irregularity in the exercise of his jurisdiction in applying to the decision of the question of law raised by the pleadings before him a principle which has been specifically laid down by one at any rate of the high ..... the plaintiff claims to be the true owner of the instrument from the time of its execution, and alleges ram narain to have been a benamidar for himself. .....

Hirjibhoy Behramji Warden Vs. Ratanbai

Court : Mumbai

Reported in : AIR1933Bom444; (1933)35BOMLR969

..... but in india the case is governed by section 29 of the negotiable instruments act. ..... that section says:-a legal respresentative of a deceased person, who signs his name bo a promissory note, bill of exchange, or cheque, is liable personally thereon, unless ha expressly limits his liability to the extent of the assets received by him as such.it is, in my opinion, impossible to argue that this note expressly limits the liability to the extent of the assets received by the promisors as executors. ..... if the case arose under section 26 of the bills of exchange act in england, it would, i think, be an arguable point whether the promissory note was given by the executors in their representative capacity or whether it was given by them personally with a mere description of their character as executors. ..... that was in 1926, on january 29, 1929, the promissory note in suit was given by way of renewal of one of those promissory notes for rs. ..... now, the promissory note is in these terms. ..... it is not disputed that the father behramji had given a promissory note for rs. ..... 1,000 was paid off and two promissory notes of rs. ..... justice wadia, and the short point which arises is whether on a promissory note, ex. ..... the very highest it can be put is that there is an implied limit, but the section requires an express limit. ..... a, the gentlemen who signed that note are personally liable or whether they are liable only as executors of their deceased father. .....

R. P. Konetti Naiker and ors. Vs. Jutu Gopalaiyar and anr.

Court : Chennai

Reported in : 16Ind.Cas.869

..... section 28 of the negotiable instruments act enacts that 'an agent who signs his name to a promissory-note, bill of exchange or cheque without indicating thereon that he signs as agent, or that he does not intend thereby to incur personal responsibility, is liable personally on the instrument, except to those who induced him to sign upon the belief that the principal only would be held liable. ..... the habits may not be the same as those of people in england or elsewhere, and the construction to be put on an instrument executed by a hindu here should not necessarily be made to depend on the construction of a similarly worded instrument executed by an englishman it is contended that decisions under section 28 of the negotiable instruments act should follow the english decisions which have placed a construction on similar instruments in england and on section 2; of the bills of exchange act, 45 and 46, vic c. 61. ..... in my opinion, these words are materially different from the language of section 28 of the indian negotiable instruments act. ..... the decision, however, proceeded apparently on the construction of section 28 of the negotiable instruments act. .....