Section 118 of NIA : Section 118: Presumptions As To Negotiable Instruments
NIA
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Explanation using Example
Imagine John issues a cheque to Alice for $500. Alice later claims that John did not provide consideration for the cheque. In court, under Section 118 of The Negotiable Instruments Act, 1881, there is an automatic presumption that John issued the cheque for a valid consideration. It would be up to John to prove otherwise if he contends that there was no consideration.
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