The Calcutta Weekly Notes April 14 1947

The general principle to be followed in cases of negotiable instruments is that the name of the.person or the firm to be chared upon a negotiable document should be clearly stated on the face or on the back of the document so that the responsibility is made plain and can be instantly reconised as the document passes from hand to hand. [...] It is not sufficient that the name of the principal should be in some way diclosed; it must be disclosed in such a way that on any fair interpretation of the istrument his name is the real name of the person liable on the bill. [...] To make the company liable it must be found that not only the money came into the hands of the company but that it was put into their hands by the lender through the managing agents it being understood by both the parties when the promissory note was executed that the company would be liable for repayment. [...] Where a subsequent mortgage given in lieu of a prior mortgage is at the instance of the mortgagor declared invalid for want of registration the effect Of that failure was to revive the prior mortgage so far as the mortgagor was concerned. [...] A suit to rcover a debt due to a firm by partners who were members of the firm at the time of dissolution is a suit to enforce a right to realise the property of a dissolved firm and is not barred by sec.