acknowledgement of debt

Harsh (Querist) 08 July 2011 This query is : Resolved
delay in acknowledgement of debt can be ground for dismiss of suit? which law prevails on this?

Follow Query

Report Abuse

A V Vishal (Expert) 08 July 2011
Under the Limitation Act, 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.

S. Bharath (Expert) 08 July 2011
Mr. Vishal is right.

PALNITKAR V.V. (Expert) 08 July 2011
A simple acknowledgment taken after limitation period would not be enough to extend limitation. But if it is coupled with a promise then it becomes a fresh agreement and can be enforced.

Advocate Bhartesh goyal (Expert) 08 July 2011
I do agree with Mr Vishal.If limitation period has been expired then it can not be revived by acknowledgement or part payment.

RAJU O.F., (Expert) 10 July 2011
Delay in execution of A O D would get the debt time-barred. Pl refer Sec.18 of the Limitation Act, 1963

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries