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Eduncle posted an MCQ
December 23, 2019 • 23:03 pm 0 points
  • UGC NET
  • Law

Which of the following are presumptions as to a negotiable instrument under section 118 of the Negotiable Instruments Act ? Answer using codes given below :

a.    Presumption of contractual capacity
b.    Presumption of consideration
c.    Presumption of maturity of instrument
d.    Presumption of date
Codes :

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    Eduncle Best Answer

    Section 118 in The Negotiable Instruments Act, 1881
    Presumptions as to negotiable instruments. Until the contrary is proved, the following presumptions shall be made :
    (a)    of consideration —that every negotiable instrument was made or drawn for consideration, and that every such instrument, when it has been accepted, indorsed, negotiated or transferred, was accepted, indorsed, negotiated or transferred for consideration;
    (b)    as to date —that every negotiable instrument bearing a date was made or drawn on such date;
    (c)    as to time of acceptance —that every accepted bill of exchange was accepted within a reasonable time after its date and before its maturity;
    (d)    as to time of transfer —that every transfer of a negotiable instrument was made before its maturity;
    (e)    as to order of indorsements —that the indorsements appearing upon a negotiable instrument were made in the order in which they appear thereon;
    (f)    as to stamps —that a lost promissory note, bill of exchange or cheque was duly stamped;
    (g)    that holder is a holder in due course —that the holder of a negotiable instrument is a holder in due course:

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