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Raghav owes Murli Rs. 10,000. This debt is time barred by the Limitation Act. Even then Raghav promises…

Under section 25(3) of the Indian Contract Act, 1872, a written promise signed by the debtor or his authorised agent to pay wholly or in part a debt barred by limitation is…

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Raghav owes Murli Rs. 10,000. This debt is time barred by the Limitation Act. Even then Raghav promises in writing to pay Murli Rs. 4,500 on account of the debt and signs the document. This contract is

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Under section 25(3) of the Indian Contract Act, 1872, a written promise signed by the debtor or his authorised agent to pay wholly or in part a debt barred by limitation is "Enforceable". Raghav's signed promise to pay Rs. 4,500 is therefore an enforceable contract for that amount.

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