Section 20 of LA : Section 20: Effect Of Acknowledgment Or Payment By Another Person
LA
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Explanation using Example
Imagine a scenario where an individual, Mr. A, took a loan from a bank but due to an unfortunate accident became mentally incapacitated before repaying the debt. The bank is concerned about the statute of limitations expiring on the debt collection. However, Mr. A's legal guardian steps in and makes a partial payment on the debt and also signs a written acknowledgment of the debt on behalf...
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