Haryana Judicial Service (Civil Judge) Prelims 2010 Previous Year Question Papers with MCQ Answers

The correct option is A: 3 years.

According to the Limitation Act, 1963, the period of limitation for suits relating to accounts is three years from the date when the right to sue accrues. This applies to suits for the balance due on a mutual, open and current account, suits against a factor or an agent for an account, suits by principals against agents for neglect or misconduct, and suits for an account and a share of the profits of a dissolved partnership.

SOME ADDITIONAL INFORMATION:

- The Limitation Act, 1963 is a law that prescribes the time limit within which a legal action can be initiated for different types of civil suits, appeals and applications.

- The purpose of the Limitation Act, 1963 is to prevent the revival of stale claims, ensure certainty and finality in legal relations, and avoid injustice and oppression that may result from the enforcement of old and dormant claims.

- The Limitation Act, 1963 also provides for certain exceptions and extensions of the limitation period in cases of fraud, mistake, disability, acknowledgment, payment, etc.