Instalment bond limitation turns on Article 75 where default accelerates the whole debt and starts time running.

A suit to recover the entire amount under an instalment bond falls under Article 75 of the Indian Limitation Act where the bond provides that default in one or more instalments makes the whole debt immediately due. Article 74 applies only to recovery of instalments as such, or amounts due for particular instalments after default. The creditor's right to sue for the full balance accrues on default of the last instalment, and a suit filed within three years from that date is within limitation.

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Issues: Whether the suit for recovery of the entire amount due under an installment bond was governed by Article 74 or Article 75 of the Indian Limitation Act.

Analysis: Article 74 applies where the suit is for recovery of installments as such, or the amount due in respect of particular installments after default. Article 75 applies where the bond provides that on default of one or more installments the whole amount becomes due, and the suit is brought for the entire amount on that footing. The creditor's right to sue for the whole debt accrued when default was made in payment of the last installment, and the suit instituted within three years from that date was within limitation.

Conclusion: The suit was governed by Article 75 of the Indian Limitation Act and was within time. The appeal failed.

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