LAW OF LIMITATION 1963
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Free sample — 8 of 65 rapid-fire Q&A cards.
What is the primary objective of the Limitation Act, 1963?
The Limitation Act, 1963 prescribes time limits within which legal proceedings must be initiated, ensuring that stale claims are not entertained by courts and promoting legal certainty.
What is the general limitation period for suits not specifically covered under the Limitation Act?
Three years from the date the right to sue accrues.
What is the limitation period for a suit to recover money lent under a simple contract?
The limitation period is 3 years from the date the money becomes due and payable under a simple contract of loan.
What is the limitation period for a suit to recover money due on a bond?
Twelve years from the date the money becomes due.
What is the limitation period for enforcing a mortgage by sale or foreclosure?
The limitation period for a suit to enforce a mortgage by sale or foreclosure is 12 years from the date the money secured by the mortgage becomes due.
Under which article of the Limitation Act does a suit on an open account fall?
Article 1, with a three-year limitation period.
What is the limitation period for a suit based on a promissory note or bill of exchange?
The limitation period is 3 years from the date the promissory note or bill of exchange falls due for payment.
What is the limitation period for a suit on a foreign judgment?
Three years from the date the judgment becomes enforceable.
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