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  • Legal and Regulatory Aspects of Bank - 1 (JAIIB)
  • In which of the following situations is the limitation pe...
Multiple choice

In which of the following situations is the limitation period not of three years?

  1. Money payable for money lent

  2. On a promissory note

  3. On a mortgage

  4. On arrears of rent

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The limitation period on a mortgage is of 12 years and not 3 years. Thus, option 3 is the correct answer. 

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