https://www.taxtmi.com/caselaws?id=300430 A suit on a mutual, open and current account remains within limitation where the last relevant entry starts a fresh period and written acknowledgments of an existing liability, signed before expiry, extend time. In partnership law, a partner has implied authority to act for the firm in the course of its business, and an acknowledgment of subsisting liability by one partner binds the firm unless excluded by statute or the partnership arrangement. Where an overdraft is secured by fixed deposit receipts and the borrowers default despite notice, the bank may exercise its general lien and right of set-off against the secured funds, and interest supported by the contract and banking records is enforceable. en-us Wed, 11 Oct 1995 00:00:00 +0530 Tue, 01 Feb 2022 15:57:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300430 A suit on a mutual, open and current account remains within limitation where the last relevant entry starts a fresh period and written acknowledgments of an existing liability, signed before expiry, extend time. In partnership law, a partner has implied authority to act for the firm in the course of its business, and an acknowledgment of subsisting liability by one partner binds the firm unless excluded by statute or the partnership arrangement. Where an overdraft is secured by fixed deposit receipts and the borrowers default despite notice, the bank may exercise its general lien and right of set-off against the secured funds, and interest supported by the contract and banking records is enforceable. Case-Laws Indian Laws Wed, 11 Oct 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300430