Limitation Period for Suits Related to Accounts

Schedule 1 of Limitation Act provides timeline for suits related to Accounts.

Part I of Schedule 1 of Limitation Act contains the details.

Limitation Period for Suits related to account.

1.

Description of Suit : For  the  balance  due  on  a  mutual, open  and  current  account,  where there have been reciprocal demands between the parties

Limitation Period : Three years

Time from which period begins to run : The  close  of  the  year  in  which  the last item  admitted  or  proved  is  entered  in the account; such  year to be computed as in the account.

2.

Description of Suit : Against a factor for an account.

Limitation Period : Three years

Time from which period begins to run : When    the    account    is,    during    the continuance  of  the  agency,  demanded and refused or, where no such demand is made, when the agency terminates

3.

Description of Suit : By  a  principal  against  his  agent  for movable  property  received  by  the latter and not accounted for.

Limitation Period : Three years

Time from which period begins to run : When    the    account    is,    during    the continuance  of  the  agency,  demanded and refused or, where no such demand is made, when the agency terminates.

4.

Description of Suit : Other   suits   by   principals   against agents for neglect or misconduct

Limitation Period : Three years

Time from which period begins to run : When the neglect or misconduct becomes known to the plaintiff.

5.

Description of Suit : For  an  account  and  a  share  of  the profits of a dissolved partnership.

Limitation Period : Three years

Time from which period begins to run : The date of the dissolution.

Comments

Post a Comment

Followers

Popular posts from this blog

Privileges and Immunities to Administration in Suits

Introduction You know government can enter into contracts. Government can start some business. It mean government can sue other people, or you can sue the government. Before you initiate a legal proceedings against government, or even after legal proceedings are initiated, there are some relaxations to government.( OK, we will use Government/Administration as per our discretion interchangeably in this post, but they will mean the same ). So, it might happen that to prove something you may need a document or evidence, but government may be given exemption to produce evidence in that regard. Let's take one example.  General law is that burden of proof is on prosecution. Meaning, the one who accuses other  needs to prove the crime/offence by other. But when government accuses you of Sedition, you have to prove your innocence, burden of proof is on YOU. This is scary, as many times government in power just accuses people of sedition who opposes their ideas/policies, and put oppone...
Read more

Legal History-Administration of Justice in Bombay (1668-1726)

Image
Story About Bombay In 1534, Portuguese acquired Bombay from Local Hindu Raja. Then Bombay was given to King Charles II as dowry in his sister's marriage to in 1661. In 1668 Bombay was given to rent to East India Company for a rent of 10  £ . By today's exchange it would be around 100 Rs. So  yes, Bombay was given on rent to East India Company for the price of 10 Vada-Pav. Administration of Bombay was subordinate to Surat back then. After renting it, company issued a charter in 1668 granting company some rights to make laws to deal with Bombay. Like Administration in Madras, development of Earlier administration could be studied in 3 stages. First Stage: 1670-1683 (Aungier Eara) During this period Bombay was subordinated to Surat. The Governor of Surat was ex-officio Governor of Bombay, though Bombay had Deputy Governor and Council. Gerald Aungier brought some changes in Administration of justice. Two plans, i.e plan of 1670 and plan of 1672 made progress in so...
Read more

Overview of Appeal in CrPC

Image
Introduction Here is the simplistic hierarchy of the Courts. (JMFC stands for Judicial Magistrate of First Class) Not so serious cases are tackled by Lower courts. Serious cases are tackled by Sessions court.  We humans are not Gods. Courts are presided by humans and its possible that they can make a mistake. They should be remedy to people when courts commits  mistake. One of such remedy is Appeals. Remember this one, you don't have right of Appeal in all the cases even if you feel Court had committed some mistake. Criminal Procedure Code gives a right to appeal in specific circumstance.  CrPC provides circumstance when you CANNOT appeal. Apart from CrPC, constitution also have certain provisions related to Appeal. Specific laws like NIA Act, UAPA Act etc have provided separate procedure of Appeal.   In this post we will cover below things When you CANNOT appeal ? Who can appeal and for What purpose ? Appeals to Sessions Court Appeals to High Court Appeals to Suprem...
Read more