Assertion: The Limitation Act, 1963, allows for the acknowledgment of debt to extend the limitation period for initiating legal action to recover the debt.

Reasoning: This provision encourages debtors to acknowledge their obligations and provides creditors with an opportunity to enforce their rights within a reasonable timeframe.

Question

Assertion: The Limitation Act, 1963, allows for the acknowledgment of debt to extend the limitation period for initiating legal action to recover the debt.

Reasoning: This provision encourages debtors to acknowledge their obligations and provides creditors with an opportunity to enforce their rights within a reasonable timeframe.

ObjectiveMcq · Accepted Answer

Both assertion and reasoning are correct, and the reasoning explains the assertion.

ObjectiveMcq · Answer

Both assertion and reasoning are correct, but the reasoning does not explain the assertion.

ObjectiveMcq · Answer

The assertion is correct, but the reasoning is incorrect.

ObjectiveMcq · Answer

Both the assertion and reasoning are incorrect.