https://www.taxtmi.com/caselaws?id=293324 A creditor may waive an instalment bond's exigibility clause where the clause is for the creditor's benefit and the bond does not clearly exclude that privilege. By suing only for defaulted instalments, the creditor was treated as having elected that waiver, and Article 75 of the Limitation Act, 1908 was applied on the footing that it recognises an existing right of waiver rather than creating one. On Order 2, Rule 2 CPC, the court noted that exigibility can give rise to more than one possible cause of action, but once the creditor elects to proceed on one basis, the later suit for the whole amount is not maintainable on the alternative basis. en-us Tue, 24 Feb 1942 00:00:00 +0630 Thu, 04 Feb 2021 18:01:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293324 A creditor may waive an instalment bond's exigibility clause where the clause is for the creditor's benefit and the bond does not clearly exclude that privilege. By suing only for defaulted instalments, the creditor was treated as having elected that waiver, and Article 75 of the Limitation Act, 1908 was applied on the footing that it recognises an existing right of waiver rather than creating one. On Order 2, Rule 2 CPC, the court noted that exigibility can give rise to more than one possible cause of action, but once the creditor elects to proceed on one basis, the later suit for the whole amount is not maintainable on the alternative basis. Case-Laws Indian Laws Tue, 24 Feb 1942 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=293324