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Indian contract act
Corporate & Other Laws
Under appropriation of payment the creditors can even adjust the amount to time barred debts but if the debtor disagree then can the creditor claim that money or get has to forgive the money. Can the creditor sue the debtor for the time barred debt
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In case of appropriation of payment, a creditor can apportion a payment at his own discretion, if debtor remains silent in the same regard. ( * Hence he would logically settle time barred debts at primitive basis ) Normally, in case of time barred debts , a creditor is entitled to receive money but unable to enforce it at court of law , unless ; Debtor specifically aggrees.
Varun Mulay
In case of appropriation of payment, a creditor can apportion a payment at his own discretion, if debtor remains silent in the same regard. ( * Hence he would logically settle time barred debts at primitive basis ) Normally, in case of time barred debts , a creditor is entitled to receive money but unable to enforce it at court of law , unless ; Debtor specifically aggrees.
So if debtor disagree then he can't gain that debt
Thread Starter
SUBODH M JAINSo if debtor disagree then he can't gain that debt
Yes , if debtor disagrees to pay , Creditor can't enforce any action against him. Debt becomes unenforceable
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