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Section 18 of the Limitation Act, 1963 deals with the effect of acknowledgement on the period of limitation. Which combination correctly states the four requirements for a valid acknowledgement to give a fresh period of limitation?
Answer & Solution
Correct answer: B.
1. Section 18 of the Limitation Act, 1963 provides that an **acknowledgement of liability** can give a fresh period of limitation, provided four conditions are satisfied:
2. (i) There must be an **admission or acknowledgement**;
3. (ii) Such acknowledgement must be **in respect of any property or right**;
4. (iii) It must be made **before the expiry of period of limitation**;
5. (iv) It must be **in writing and signed by the party** against whom such property or right is claimed.
6. If all four are satisfied, a **fresh period of limitation** shall be computed from the time when the acknowledgement was signed.
_Source: ICSI CS Executive — Lesson 7, 'Effect of Acknowledgement on the Period of Limitation (Section 18)', p. 158._
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