What period of limitation does Article 19 of the Schedule to the Limitation Act, 1963 prescribe for a…

Article 19 prescribes a limitation period of three years. The period begins when the loan is made.

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What period of limitation does Article 19 of the Schedule to the Limitation Act, 1963 prescribe for a suit for money payable for money lent?

Answer and explanation

Correct answer C

Article 19 prescribes a limitation period of three years. The period begins when the loan is made.

Option A

Article 19 gives a longer period of three years.

Option B

The prescribed period exceeds two years by one year.

Option C

Article 19 prescribes three years from the date the loan is made.

Option D

Article 19 prescribes three years, so a five-year period does not apply.