In the context of the Limitation Act, 1963, the Statute of Limitation ________ regarding debt.
For an ordinary debt, limitation bars the judicial remedy rather than extinguishing the debt itself. Section 3 prevents a late suit, while section 25(3) of the Contract Act…
Choose your answer
In the context of the Limitation Act, 1963, the Statute of Limitation ________ regarding debt.
Answer and explanation
Correct answer A
For an ordinary debt, limitation bars the judicial remedy rather than extinguishing the debt itself. Section 3 prevents a late suit, while section 25(3) of the Contract Act can recognise a qualifying written and signed promise to pay a time-barred debt. Section 27’s extinction of property rights is a different rule and should not be applied to every debt.
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Maharashtra Judicial Services
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CUET PG Law (LL.M.)
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