My friend gave me a promissory note 20 years ago and now wants me to pay the amount with interest. Can he still file a cheque bounce case against me after so long?
My friend gave me a promissory note 20 years ago and now wants me to pay the amount with interest. Can he still file a cheque bounce case against me after so long?
Best Answer
Under the Limitation Act, 1963, the limitation period for filing a suit on a promissory note is 3 years from the date of default. As 20 years have passed, your friend cannot file a suit on the promissory note or a cheque bounce case related to it.
Please login or Register to submit your answer


Join our community on Telegram and WhatsApp for instant updates, news, and exclusive offers.
Sign in to your account