Execution of pronote
Deepak
(Querist) 26 March 2012
This query is : Resolved
What are the possible essential ingredients for the execution of a valid pro-note?
In a instant case where the pro-note was executed by a deceased and the suit for recovery was filed against the legal heirs of the deceased. The Hon'ble Court of ACJ(SD) had given her opinion that passing of the consideration while executing a pro-note is purely immaterial. More over there was nothing on the record to show what property,the legal heirs have inherited from the deceased.Also there were difference in the statements with respect to the truth of passing of the consideration between the scribe and the plaintiff.
ajay sethi
(Expert) 26 March 2012
essentila sof promissory note
Must be in writing
Promise to pay
Definite & unconditional
Signed by the maker
Certain parties
Certain sum of money
Promise to pay only money
Adv.R.P.Chugh
(Expert) 26 March 2012
1) Every Negotiable Instrument is presumed to have been issued for valid consideration. Though the person can rebut this by leading evidences.
2) In absence of legal heirs deriving any property from the deceased they can't be made liable - for legal heirs are under no personal obligation
R.Ranganathan
(Expert) 27 March 2012
I agree with the essentials of a promissory note mentioned by Mr. Ajay Sethi
Deepak
(Querist) 30 March 2012
what about proving (reliability) a case where the it is file against the LR's of a deceased? I mean to say the strictness regarding proving the case. I have come across a case with citation AIR 1960 Punjab 500. Is there any latest authority which rely upon the findings in such case.
V R SHROFF
(Expert) 30 March 2012
In absence of author of Pro note and no witness, signature can be challenged.
if no thumb impression or photo etc, it will be difficult to prove, making of Pro note, and id delivery is not proved, Pro note, enen if sign is proved, is useless.
Is date within Limitation??
Deepak
(Querist) 30 March 2012
the date is with in limitation.
The signature could not be proved as the pronote was executed by person (dead now). the suit has been filed against the LR's. in the cited authority i.e. air 1960 punjab 500 the same thing has been discussed that in such cases the pronote has to be proved be utmost strictness. moreover presumption u/s 118 cannot be raised against the LR's. it is applicable only between the parties to the negotiable instrument.
Deepak
(Querist) 30 March 2012
i am looking for such a special law. that presumption u/sec 118 cannot be raised against the LR's and if the execution of the pronote is denied in the WS, then the plaintiff has to prove his case in complete sense i.e the valid execution with regard to being definite & unconditional along with the signing of the document, the passing of consideration.
