An instrument of debt found in the debtor's possession is presumed paid.

Explanation

Possession of the evidence of debt by the debtor raises a presumption of satisfaction — the creditor who surrenders the instrument is taken to have been paid. (Duplicate maxim — see also 11.2.12.)

Where this applies

• I found the original loan document in my possession — does that mean the debt is paid?
• The promissory note is in the borrower's hands — shouldn't we presume the loan was repaid?

See also

• 6.5.2 An instrument of debt not in existence is presumed discharged.
• 11.2.12 A deed or bond found with the debtor is presumed to be paid.