STOPPED PAYMENT

Querist : Anonymous (Querist) 11 December 2009 This query is : Resolved
Dear sir,

As one of the party has purchased the items worth of Rs 40000/= in 2004 from us and he lingered on the payment to till date.
now he is saying that he only wants to pay 15000/=.
please let me know what should i do to get full payment.

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A V Vishal (Expert) 11 December 2009
Kindly give complete details, in absence of which I opine that you cannot take any legal action against the purchaser since the account is barred under law of limitation.

niranjan (Expert) 11 December 2009
If you have maintained books of account and shown outstanding amounts in the name of defaulter,you can file suit for recovery of the amount based on your books of account and thereby you will overcome the question of limitation.

aman kumar (Expert) 11 December 2009
some poits to be discussed ,
1 . how many notice have you given them ?
2 . what were the reasons?
3 . as niranjan say your account position
showing out standing or not for limitation act

S.KARUNAMOORTHY (Expert) 11 December 2009
as per Limitation act the right to sue is exhausted and with in 3 years if u have availed any aknowledgement of debt then the limitation shall stands counted from that day. give the particular as experts said..

Arvind Singh Chauhan (Expert) 11 December 2009
You can be suggested only after the discloser of 3 points described by Aman Sir and also the date of last transaction as suggested by Karunamurthy Sir on the point of limitation.