Section 19 limitation act


Mr. X had agreed to repay a friendly loan advanced to him after 3 months. He failed to repay but agreed to continue to pay interest till repayment.

Does payment of interest on friendly loan extend period of limitation u/s 19 of Limitation Act?

 
Reply   
 

He has given signed cheque or signed pronote.or not
 
Reply   
 



He has continued to pay interest which is shown in TDS certificate of lender.
 
Reply   
 

When he refuses to pay interest on that day onwards cause of action arises
 
Reply   
 
Lawyer in Hyderabad.Email:ramachary64@gmail.com

If the debtor makes a part payment before the expiry of the limitation period, either by himself or by his agent duly authorised on his behalf or in the handwriting of himself or such agent, fresh period of limitation starts from date of such part payment. : A credit entry by itself does not save limitation. Pay in slip signed by the borrower or his duly authorised agent amounts to part-payment. A pay in slip signed by an employee of a partnership firm or a company does not save limitation. : It needs to be noted that acknowledgement of debt and part payment should be obtained before the expiry of limitation period as they cannot revive the limitation if already expired. 
 

 
Reply   
 

LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  



 

Search Forum:








×

  LAWyersclubindia Menu