98.
The answer is: A
Explanation
The correct option is A: Enforceable.
According to section 25 (3) of the Indian Contract Act, 1872, a promise to pay a time barred debt is enforceable when the following conditions are satisfied:
- The debt must be such of which the creditor might have enforced payment but for the law of limitation of suits.
- The promise must be made in writing and signed by the person to be charged therewith or his agent.
- The promise must be to pay the whole or part of the debt.
In this case, Raghav owes Murli Rs. 10,000/-, which is a debt that is barred by the law of limitation. However, Murli promises in writing to pay Raghav Rs. 4500/- on account of the debt and signs the document. This satisfies all the conditions of section 25 (3) and therefore, the contract is enforceable. Murli cannot later refuse to pay Raghav on the ground that the debt was time barred. Raghav can sue Murli for the recovery of Rs. 4500/- as per the promise.