https://www.taxtmi.com/caselaws?id=200454 A written acknowledgment by the principal debtor was construed as an express promise to repay a time-barred liability with interest, bringing the case within section 25(3) of the Indian Contract Act, 1872 and supplying a fresh cause of action; the suit was therefore held to be within limitation and maintainable. The acknowledgment was also treated as binding the debtor to pay interest under the subsisting obligations, so refusal of contractual interest was erroneous. For post-suit interest, section 34 of the Code of Civil Procedure, 1908 was applied on the principal sum adjudged at a rate considered reasonable in the circumstances, resulting in simple interest at 8% per annum. en-us Mon, 09 Nov 1992 00:00:00 +0530 Thu, 29 Mar 2018 10:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200454 A written acknowledgment by the principal debtor was construed as an express promise to repay a time-barred liability with interest, bringing the case within section 25(3) of the Indian Contract Act, 1872 and supplying a fresh cause of action; the suit was therefore held to be within limitation and maintainable. The acknowledgment was also treated as binding the debtor to pay interest under the subsisting obligations, so refusal of contractual interest was erroneous. For post-suit interest, section 34 of the Code of Civil Procedure, 1908 was applied on the principal sum adjudged at a rate considered reasonable in the circumstances, resulting in simple interest at 8% per annum. Case-Laws Indian Laws Mon, 09 Nov 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200454