https://www.taxtmi.com/caselaws?id=313345 A claim under a guarantee payable "when called upon" was treated as a demand debt, with the guarantor's liability co-extensive with that of the principal debtor. Applying the Limitation Act, the court held that the last debit or credit entries and the first effective demand placed the claim outside the three-year period, and successive demands could not extend limitation. The related claim based on lien was also barred. The result was that the claim failed as time-barred. en-us Thu, 16 Apr 1964 00:00:00 +0530 Mon, 08 Apr 2024 18:07:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313345 A claim under a guarantee payable "when called upon" was treated as a demand debt, with the guarantor's liability co-extensive with that of the principal debtor. Applying the Limitation Act, the court held that the last debit or credit entries and the first effective demand placed the claim outside the three-year period, and successive demands could not extend limitation. The related claim based on lien was also barred. The result was that the claim failed as time-barred. Case-Laws Indian Laws Thu, 16 Apr 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313345