If a Demand Promissory Note is executed and a loan facility covered by a time barred DP Note is legally safe to be allowed to continue, then which act is to be quoted to justify the above?
Reveal answer
Fill a bubble to check yourself
Keep practicing — related questions
- The limitation period of bank loans supported by the promissory notes only is 3 years.
- In which of the following situations is the limitation period not of three years?
- Which of the following statements is/are correct? a. The British passed the Limitation Law in 1857. b. It s...
- A boy was travelling for the first time in an aeroplane. As the flight took off from the airport, he got an...
- A promissory note, bill of exchange or cheque drawn or made in India, and made payable in or drawn upon any...
- Which of the following is a valid promissory note?
- Which written instrument signed by the maker is a promissory note?
- Where in a promissory note or a bill of exchange, the expressions “at sight” and “on presentment” are menti...