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Y V Vishweshwar Rao (Advocate )     18 April 2009

Agreement ot pay the amount

A -took loan of Rs;- 25,000/- from B , for a  period of 4- years - A did not pay the due amount to B  , but in  5th year A agreed  to pay the due amount and  executed and  delivered a note/agreement  to pay the  5 years old Debt .

There are no other documents  in between  the parties . !

Please express your views if a suit is field , is it with in limitation ! 

thanks in advacne 



Learning

 4 Replies

Chhaya Soni (Self Employed)     18 April 2009

If the Party B acknowledge the debt in writing, a fresh period starts from  the date, u can file recovery suit on that basis.

 

Chhaya Soni (Self Employed)     18 April 2009

sorry its Party A not B

1 Like

laknareddy yanala (legal consultant)     18 April 2009

You can file the recoery suit . It is perfectly within time as fresh acknoweldgement for the earlier loan is there. From that day onwards, you can prefar the suit within three years.

1 Like

Y V Vishweshwar Rao (Advocate )     23 April 2009

Thak to all of you friends !


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