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Imagine this:
Your friend, who you haven’t seen in 1000 years, suddenly pops up one day, dusts off an old ledger, and says, “Hey, remember that 20 bucks you borrowed from me? I’m suing you for it.”
Your reaction?
“Wait… 1000 years?! You still remember that? Dude, even the dinosaurs had a better sense of time!”
You’d probably laugh and say, “Ever heard of the Limitation Act, 1963? Pretty sure it’s here to protect me from ancient claims like this. Good luck trying to explain why you waited until the Earth practically rebooted itself to take legal action!”
The Limitation Act ensures that claims are filed within a reasonable timeframe—because seriously, after 1000 years, even interest rates would have given up on you!
Note – This is a dynamic content and will be updated from time to time for the applicable amendments. Any corrections or suggestions or inputs or support are welcome from the reader either by filing the form at the end of this wonderful post or through the mail at hello@fiscalnow.com.Â
Why Limitation Act ?
There are several reasons for the existence of the Limitation Act 1963, some of them are listed below
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- Promotes Timely Justice by ensuring that legal claims are filed in a timely manner thus prevents delays in justice.
- Preserves Evidence: With the passage of time evidences may deteriorate, memories may fade, and witnesses can become unavailable. Thus this Act ensures that legal claims are brought while evidence is still fresh and available, which contributes to fairer and more accurate adjudication.
- Prevents Stale Claims based on old, potentially unreliable evidence.
- Provides Legal Certainty by ensuring that parties know that there is a finite period during which they can assert their rights, which aids in better planning and closure.
- By enforcing time limits, the Act encourages claimants to act with promptness and diligence, rather than procrastinating.
- Reduces Burden on Courts by eliminating outdated and potentially frivolous claims, thus enabling the judiciary to focus on more current and relevant cases.
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Well the answer is only two worded “The Best”……
What is the meaning of Limitation?
The general meaning of the word limitation is presence of restrictions or constraints in doing a particular thing. In legal context the same may be referred to as setting up of a deadline for taking any legal action.
Schema of the Limitation Act 1963
The Limitation Act 1963 is divided into 5 Sections which inter alia contains 32 Sections and One Schedule
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- Part 1 Preliminary (Section 1 to 2)
- Part 2 Limitation of Suits, Appeals and Applications (Section 3 to 11)
- Part 3 Computation of Period of Limitation (Section 12 to 24)
- Part 4 Acquisition of Ownership by Possession (Section 25 to 27)
- Part 5 Miscellaneous (Section 28 to 32)
- Schedule further divided into three (3) divisions
- Division 1 – Suits
- Part 1 – SUITS RELATING TO ACCOUNTS
- Part 2 – SUITS RELATING TO CONTRACTS
- Part 3 – SUITS RELATING TO DECLARATIONS
- Part 4 – SUITS RELATING TO DECREES AND INSTRUMENTS
- Part 5 – SUITS RELATING TO IMMOVABLE PROPERTY
- Part 6 – SUITS RELATING TO MOVABLE PROPERTY
- Part 7 – SUITS RELATING TO TORT
- Part 8 – SUITS RELATING TO TRUSTS AND TRUST PROPERTY
- Part 9 – SUITS RELATING TO MISCELLANEOUS MATTERS
- Part 10 – SUITS FOR WHICH THERE IS NO PRESCRIBED PERIOD
- Division 1 – Suits
- Division 2 – Appeals
- Division 3 – Applications
- Part 1 – APPLICATIONS IN SPECIFIED CASES
- Part 2 – OTHER APPLICATION
- Division 3 – Applications
What is the date of enactment of the Limitation Act 1963?
The date of enactment of the Limitation Act 1963 is 05th October 1963 to consolidate and amend the law for the limitation of suits and other proceedings and for purposes connected therewith, however the same was enforced from 01st January 1964.
Schema of the Limitation Act 1963
There is no subordinate legislation to the Limitation Act 1963.
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