K.P.O. MOIDEEENKUTTY HAJEE vs PAPPU MANJOORAN

The Supreme Court upheld the concurrent findings of the High Court and Civil Court regarding the validity of a promissory note executed for Rs.1.5 lakhs, despite the appellant's claim of cash consideration. The Court emphasized that under Section 118 of the Negotiable Instruments Act, 1881, there is a presumption of consideration for negotiable instruments, shifting the burden of proof to the maker of the note to prove failure of consideration. The Court concluded that the suit for recovery based on the promissory note is valid in law, affirming the lower courts' decisions.