Recovery Suit

Querist : Anonymous (Querist) 01 April 2010 This query is : Resolved
We have sent a legal notice asking for the outstanding payment, it was recieved by the other party and a reply for the same has been sent to us.Tell me when will the limitation period will begin to run for that from the date of sending the notice or from the date of recieving of our notice by the other party or from the date of our recieving the reply from the party and what is the limitation period.

Follow Query

Report Abuse

Parthasarathi Loganathan (Expert) 01 April 2010
Limitation period starts from the date of first payment of overdue instalment.

Shyam Ji Srivastava (Expert) 01 April 2010
Dear Sir,

Limitation starts from the date of receipt of the notice if notice sent within time that is within three years from the date of cause of action.

SHYAM J SRIVASTAVA
ADVOCATE

Raj Kumar Makkad (Expert) 01 April 2010
I differ with both the experts and you also. The period of limitation for filing suit for recovery is 3 years from the date of last confirmation of loan amount by the defendant/loanee.

The limitation cannot be extended by way of notice or its counter reply. It is static and legal to be counted as told by me above.

Parveen Kr. Aggarwal (Expert) 01 April 2010
Service of notice or reply thereof is not in any manner connected with limitation period for filing a suit for recovery except where in reply to notice acknowledgement is made by the debtor.

You first clarify what was the transaction regarding which amount is sought to be recovered, i.e. whether it is credit sale of gooods, loan transaction or any other transaction or agreement etc. and the date when the amount was due and payable. All these factors are relevant for deciding limitation period for filing a suit for recovery of amount.

Querist : Anonymous (Querist) 02 April 2010
The transaction is regarding the supply of goods and recovery for the corresponding amount is to be done.For that we have sent a notice asking for the payment within 15 days.for that i am asking about the limitation for filing the suit.

Parveen Kr. Aggarwal (Expert) 03 April 2010
Article 14 of the Schedule appended to the Limitation Act, 1963, provides that for the price of goods sold and delivered when no fixed period of credit is agreed upon, limitation period is three years from the date of delivery of the goods.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries