Limitation act
Pardeep jagdeva
(Querist) 03 November 2008
This query is : Resolved
In money recovery cases when the cause of action arise and what limitation counts.
smilingadvocate
(Expert) 03 November 2008
In all money recovery cases the limitation is 3 years from the date of execution of the document and it depends on the contract, in some cases where the money is lent from the date of loan made and in the case of lender giving cheque from the date of when the cheque paid when the money lent under an agrement when the loan is made and if it is payable on demand on when the demand is made and when the money is paid for all such cases please refer to Articles 19 to 53 if limitation Act in all cases 3 years is the limitation
Manish Singh
(Expert) 04 November 2008
yes I do agree with Mr. Smiling,
the limitation is 3 years from the date of the money due. it doesnt take into account exclusion of any time period for which the other party has made any promise to pay the amount or so.
Srinivas.B.S.S.T
(Expert) 05 November 2008
For all the suits for recovery of money the limitation period is 3 years from the date of last acknowledgement of the debt
G. ARAVINTHAN
(Expert) 05 November 2008
Yes, the limitation for filing a suit for recovery of money is 3 years.
In case of running account, the limitation term expires at the end of the third year of that particular financial year
