Under Article 55 of the Schedule to the Limitation Act, 1963, what is the prescribed period for a suit seeking compensation for breach of contract when no specific provision applies?
Question and options
Under Article 55 of the Schedule to the Limitation Act, 1963, what is the prescribed period for a suit seeking compensation for breach of contract when no specific provision applies?
3 years
5 years
7 years
11 years
Answer and explanation
Correct answer: A - 3 years
Article 55 prescribes three years for compensation for breach of any contract, express or implied, when the Schedule does not otherwise specifically provide for the claim. Article 55 generally reckons time from breach, with separate triggers for successive and continuing breaches.
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Himachal Pradesh Judicial Services
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CUET PG Law (LL.M.)
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