https://www.taxtmi.com/caselaws?id=286082 A clear and unconditional acknowledgment of debt in a signed balance sheet can operate as a promise to pay a barred debt under section 25(3) of the Contract Act and may also support the claim against limitation. The article further notes that account books and ledger entries, when corroborated by invoices, admitted dealings, and surrounding evidence, can establish supply transactions, outstanding balance, and liability, especially where the defendants do not enter the witness box and an adverse inference is drawn. Interest is recoverable on advances and goods supplied, but only at a reasonable rate; the excess claim was reduced while the principal claim substantially succeeded. en-us Wed, 25 Apr 1990 00:00:00 +0530 Tue, 11 Feb 2020 15:39:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286082 A clear and unconditional acknowledgment of debt in a signed balance sheet can operate as a promise to pay a barred debt under section 25(3) of the Contract Act and may also support the claim against limitation. The article further notes that account books and ledger entries, when corroborated by invoices, admitted dealings, and surrounding evidence, can establish supply transactions, outstanding balance, and liability, especially where the defendants do not enter the witness box and an adverse inference is drawn. Interest is recoverable on advances and goods supplied, but only at a reasonable rate; the excess claim was reduced while the principal claim substantially succeeded. Case-Laws Indian Laws Wed, 25 Apr 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286082