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The Law of Limitation under the Limitation Act, 1963 operates to:
Answer & Solution
Correct answer: A.
1. The ICSI text records: 'The Law of limitation **bars the remedy** in a Court of law only when the period of limitation has expired, **but it does not extinguish the right** that cannot be enforced by judicial process.'
2. *Bombay Dying & Mfg. Co. Ltd. v. State of Bombay, AIR 1958 SC 328*: if a claim is satisfied outside the Court of law after the expiry of period of limitation, that is **not illegal**.
3. So limitation is a **shield, not a sword** — the underlying right survives, but the door of the Court is shut.
4. Options B, C and D distort this rule.
_Source: ICSI CS Executive — Lesson 7 'Limitation Act, 1963', Introduction, p. 154._
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