Voidable transfer remains effective until annulled, so pre-annulment execution applications can save limitation under Article 182(5).

A transfer that is liable to be annulled under the Provincial Insolvency Act remains operative until it is actually annulled by the court, so the transferee retains a legally effective title and may validly seek execution of the decree. An execution application filed before annulment is therefore an application made in accordance with law for the purpose of Article 182(5) of the Limitation Act. On that basis, the receiver was entitled to rely on the earlier execution proceedings to compute limitation, and the later execution petition was within time.

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Issues: Whether the execution applications filed by the assignee were applications made in accordance with law for the purpose of Article 182(5) of the Limitation Act, so as to save limitation for the receiver's later execution application.

Analysis: A transfer liable to be annulled under the Provincial Insolvency Act does not cease to be operative merely because insolvency proceedings have been initiated or because the adjudication order relates back to the date of presentation of the petition. Until the transfer is actually annulled by the court, the transferee retains a legally effective title and may validly seek execution of the decree. The execution applications filed by the assignee were therefore competent and not rendered invalid by the later order setting aside the transfer. The receiver was entitled to rely on those earlier execution proceedings for the purpose of computing limitation under Article 182(5), and his own execution application was within time.

Conclusion: The earlier execution applications were applications made in accordance with law, and the receiver's execution petition was not barred by limitation.

Ratio Decidendi: A transfer voidable under the Provincial Insolvency Act remains valid until annulled, and an execution application by the transferee made before annulment is an application in accordance with law for the purposes of Article 182(5) of the Limitation Act.

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