https://www.taxtmi.com/caselaws?id=313344 Limitation against a surety on a demand promissory note runs from the date of the note because the debt is immediately payable and the surety's liability arises at once. Payment of interest by the principal debtor does not create a fresh limitation period against the surety merely because the surety knew of or consented to that payment. For limitation purposes, the principal debtor's debt and the surety's liability are distinct; an interest payment extends time against the surety only if it is properly made on the surety's behalf. The co-extensive nature of surety liability does not alter limitation law. en-us Sun, 21 Jan 1917 00:00:00 +0530 Mon, 08 Apr 2024 17:52:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313344 Limitation against a surety on a demand promissory note runs from the date of the note because the debt is immediately payable and the surety's liability arises at once. Payment of interest by the principal debtor does not create a fresh limitation period against the surety merely because the surety knew of or consented to that payment. For limitation purposes, the principal debtor's debt and the surety's liability are distinct; an interest payment extends time against the surety only if it is properly made on the surety's behalf. The co-extensive nature of surety liability does not alter limitation law. Case-Laws Indian Laws Sun, 21 Jan 1917 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313344