https://www.taxtmi.com/caselaws?id=305155 Article 115 of the Jammu and Kashmir Limitation Act applies only where the dealings amount to a mutual, open and current account with reciprocal demands. Advance payments under a supply contract, and payments made towards goods delivered, do not by themselves create independent obligations on the seller or convert the account into mutual dealings. Delayed deliveries and delayed monthly payments did not alter the contractual character of the transactions. On that footing, the limitation provision was inapplicable and the suit for recovery of price was treated as time-barred. en-us Wed, 19 Aug 1959 00:00:00 +0530 Sat, 19 Nov 2022 11:45:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305155 Article 115 of the Jammu and Kashmir Limitation Act applies only where the dealings amount to a mutual, open and current account with reciprocal demands. Advance payments under a supply contract, and payments made towards goods delivered, do not by themselves create independent obligations on the seller or convert the account into mutual dealings. Delayed deliveries and delayed monthly payments did not alter the contractual character of the transactions. On that footing, the limitation provision was inapplicable and the suit for recovery of price was treated as time-barred. Case-Laws Indian Laws Wed, 19 Aug 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305155