According to the Limitation Act, 1963, the period of limitation for filing of a suit on the basis of a…
Under Article 35 of the Schedule to the Limitation Act, a suit on a promissory note payable on demand must be filed within "three years" from the date of the note; notes…
Choose your answer
According to the Limitation Act, 1963, the period of limitation for filing of a suit on the basis of a promissory note from the date of its execution is
Answer and explanation
Correct answer C
Under Article 35 of the Schedule to the Limitation Act, a suit on a promissory note payable on demand must be filed within "three years" from the date of the note; notes payable at a fixed time run from the date of maturity under the neighbouring articles.
One, two and six years are not the periods prescribed for suits on promissory notes.
Practice for these exams
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Odisha Judicial Services
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CUET PG Law (LL.M.)
Subject revision