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The Law of Limitation
What is the primary legislation governing the law of limitation in India?
The Limitation Act, 1963 is the primary legislation that prescribes time limits within which suits, appeals, and applications must be filed in Indian courts.
What is the limitation period for filing a suit on an open account under the Limitation Act, 1963?
Three years from the date of last entry in the account.
What is the limitation period for filing a suit on a promissory note payable on demand?
The limitation period is 3 years from the date the promissory note is made, as prescribed under the Limitation Act, 1963.
Under which schedule of the Limitation Act, 1963 are the periods of limitation specified?
The First Schedule of the Limitation Act, 1963.
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