Bank law -- Suit for recovery - Filed within three years of acknowledgement of liability by defendant - Suit is filed within time - Burden lies on defendant who claim it to be barred by limitation to prove his assertion...........
Bank Law -- Suit for recovery - Proof about payment of amount of borrower - Defendant denying receipt of amount - Failed to give reply regarding acknowledgement made by him - Entries give support to bank's case. (Banker's Book of Evidence Act, Ss.4, 2(8)...........
Limitation Act, 1963, Section 18 -- Acknowledgement - Bank loan - Defendant pleading that his signatures were obtained on blank papers to be shown to him after being filled, which were never shown to him - Date below signatures not appearing - It is well known that in financial transactions between a Bank & a private individual the date should be put below signatures -..........
Limitation Act, 1963, Section 18 -- Bank loan to firm - Acknowledgement of liability - Partnership firm dissolved and two out of three partners retired - Firm reconstituted by one partner by joining two other partners - All assets and liabilities of the firm taken over by partner continuing in the firm and dissolution deed approved by Bank - Acknowledgement of liability..........
Evidence Act, 1872, Section 114, Transfer of Property Act, 1882, Section 106 -- Illus. (f) - Presumption regarding service of notice sent by registered post, correctly addressed - Acknowledgement received showing its receipt - Presumption of service of notice arises - However, this presumption can be rebutted by the addressee by appearing as a witness and stating that he..........
Limitation Act, 1963, Section 18, 19, 20 -- Bank loan - Balance confirmation letter or part payment by principal debtor binds the surety as well - the acknowledgement or part payment is demand to have been made on behalf of the surety as well...........
Limitation Act, 1963, Section 18, Article 19 -- Time barred debt - Acknowledgement - tea Estate taken over by defendants with all assets and liabilities as on 7.6.1965 - Suit filed on 1.6.1966 - Taking over of a on going concern with all its assets and liabilities does not amount to `acknowledgement' within the meaning of S.18 to extend the period of limitation - S.25(3)..........
Pronote -- Executed in acknowledgement of loan already obtained - Promissory note not admissible as not stamped - Suit for recovery of debt based on the original cause of action cannot be dismissed...........
Limitation Act, 1963, Section 19 -- `Acknowledgement' - Payment within time and acknowledgement in writing either in the handwriting or in a writing signed by the debtor is necessary - Endorsement need not be simultaneous with the payment - it can be at any time after the payment, even after expiry of limitation but it must be before institution of suit...........
Limitation Act, 1963, Section 19, Limitation Act, 1963, Section 19 -- Expln. Cl. (a) - Receipt of rent or produce by mortgage in possession - Sufficient acknowledgement - No writing necessary...........
