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    Question

    Under the Negotiable Instruments Act, 1881, the

    "Presumption as to Date" under Section 118(b) assumes that every negotiable instrument was drawn on:┬а
    A The date it was actually signed Correct Answer Incorrect Answer
    B The date it was presented for payment Correct Answer Incorrect Answer
    C The date appearing on the face of the instrument Correct Answer Incorrect Answer
    D The first day of the financial year Correct Answer Incorrect Answer
    E The last day of the calendar year Correct Answer Incorrect Answer

    Solution

    Section 118(b) of the Negotiable Instruments Act, 1881 establishes a rebuttable presumption that if a negotiable instrument is dated, it is presumed to have been drawn on the date appearing on the face of the instrument. This simplifies commercial transactions by providing a clear, prima facie date for all parties to rely upon unless proven otherwise.

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