KURUPPATH UMMERS SON ARAKKAL KURUPPATH HAMEED HAJI Vs. KEEZHEPADATH RAMANDIS SON APPUKUTTI

JUDGEMENT

(1.) THE question arising in this miscellaneous appeal is whether or not the suit document is a promissory note. The trial Court has held that it is a promissory note; but the trial Judge has dismissed the suit since the document is not sufficiently stamped. Under Section 35 of the Indian Stamp Act.

(2.) UNDER the Indian Stamp Act Section 2 Sub-section (22 ). "promissory note" means a promissory note as defined by the Negotiable Instruments Act 1881;" and under Section 4 of the Negotiable Instruments Act a "promissory note" is denned as,

(3.) SECTION 13 (1) Explanation (1) of the Negotiable Instruments Act makes it clear that even if the expression "or to the order of" is absent the document can be negotiated if negotiability is not expressly prohibited by the terms of the document. The Explanation reads:--