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Business Environment and Law-Performance And Discharge Of Contracts

By Lapse Of Time-Performance And Discharge Of Contracts

   Posted On :  07.05.2018 11:22 pm

The Limitation Act provides the time limit in which certain rights can be enforced.

By Lapse Of Time

The Limitation Act provides the time limit in which certain rights can be enforced. If that time limit expires, the promisee cannot enforce the promisor and promisor is discharged. Example: A owes Rs 10,000 to B. The last date for the repayment of the loan has expired and B does not file a suit against A for two years. B loses the right to recover the money back.
Tags : Business Environment and Law-Performance And Discharge Of Contracts
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