A.L.Prasanna (MCom) 29 August 2010
Hello everyone
I am a final year student of LLB. I came across a problem on limitation on promissory note. I was searching for some help when I read the forum discussing on promissary notes. Can any one of you guide me with it?
A has exicuted a Promissary note in favour of B on 1-10-2005. A paid some amount on 1-10-2008 and got it noted on the promissary note. B files a suit for the reconvery of the amount on 1-10-2009. Decide.
Prasanna
G. ARAVINTHAN (Legal Consultant / Solicitor) 29 August 2010
Limitation starts only from the date of last endorsement, the suit is well within time.
P.K.Haridasan (Advocate) 29 August 2010
The limitation of time will start from the last date of endorsement . A letter with acknowledgement will renew the limitation period. The suit is in time.
digvijay singh (Assistant Advocate) 29 August 2010
agree......
niranjan (civil practice) 29 August 2010
I also agree.
A.L.Prasanna (MCom) 30 August 2010
Hi
Thnaks to all for an instant reply. But I would appreciate if you could give me more precise solution with case law if any quoted and about amendment regarding the same if any.
Deekshitulu.V.S.R (B.Sc, B.L) 04 September 2010
You should go thro Sec. 18,19 and 20 of Limitation Act. Then the problem is solved.
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