https://www.taxtmi.com/manuals?id=5611 An acknowledgement functions as an admission by a debtor that can revive a time-barred obligation by creating or implying a promise to pay; it may be constituted by written admission, part payment, or part satisfaction and thereby tolls the statute of limitations. For sufficiency, a written acknowledgement must admit the debt and contain an unconditional promise to pay or justify an inference of such promise, or, if conditional, show that the condition is accomplished. Documentary statements like a balance sheet signed by directors may suffice, and acknowledgement of a deed or speciality must clearly admit the speciality debt. en-us Wed, 23 Oct 2024 16:12:00 +0530 Fri, 13 Jun 2025 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=5611 An acknowledgement functions as an admission by a debtor that can revive a time-barred obligation by creating or implying a promise to pay; it may be constituted by written admission, part payment, or part satisfaction and thereby tolls the statute of limitations. For sufficiency, a written acknowledgement must admit the debt and contain an unconditional promise to pay or justify an inference of such promise, or, if conditional, show that the condition is accomplished. Documentary statements like a balance sheet signed by directors may suffice, and acknowledgement of a deed or speciality must clearly admit the speciality debt. Manuals Indian Laws Wed, 23 Oct 2024 16:12:00 +0530 https://www.taxtmi.com/manuals?id=5611