'A negotiable instrument is subject to certain presumptions'. Discuss in the context of Negotiable Instruments Act, 1881.

A negotiable instrument is subject to certain presumptions. These have been recognised by the Negotiable Instruments Act, 1881 under Sections 118 and 119 with a view to facilitate the business transactions. These are described below. It shall be presumed that: Every negotiable instrument was made or drawn for consideration irrespective of the consideration mentioned in the instrument or not. Every negotiable instrument having a date was made on such date. Every accepted bill of exchange was accepted within a reasonable time before its maturity. Every negotiable instrument was transferred before its maturity The instruments were endorsed in the order in which they appear on it. A lost or destroyed instrument was duly signed and stamped. The holder of the instrument is a holder in due course. In a suit upon an instrument which has been dishonoured, the Court shall presume the fact of dishonour, or proof of the protest. However, these legal presumptions are rebuttable by evidence to the contrary. The burden to prove to the contrary lies upon the defendant to the suit and not upon the plaintiff.