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'A' owes 'B' 1000 but the debt is barred by the Limitation Act. 'A' signs written promise to pay 'B'…

Under s.25(3) of the Indian Contract Act, a written and signed promise to pay, wholly or in part, a debt otherwise barred by limitation is an exception to the requirement of…

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'A' owes 'B' 1000 but the debt is barred by the Limitation Act. 'A' signs written promise to pay 'B' 500 on account of the debt. This is a -

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Under s.25(3) of the Indian Contract Act, a written and signed promise to pay, wholly or in part, a debt otherwise barred by limitation is an exception to the requirement of consideration and is enforceable as a valid contract.

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