The period prescribed of limitations mentioned in Schedule of the Act for suits related to mortgaged property is . . . . . . .

Which one of the following is the correct sequence of various stages of operating cycle of a manufacturing company? 1. Raw material conversion period, work-in-progress conversion period, Finished goods conversion period, Receivables conversion period 2. Raw material conversion period, work-in-progress conversion period, Creditors payment period, Receivables conversion period 3. Creditor payment period. Raw material conversion period, Receivables conversion period, work-in- progress conversion period 4. Raw material conversion period, Finished goods conversion period, work-in- progress conversion period. Receivables conversion period

A

1

B

2

C

3

D

4

Assertion (A): Where any special or local law prescribes for any suit appeal or application a period of limitation different from period prescribed by the Schedule, the provisions of Section 3 of Limitation Act, 1963 shall apply as if such period were the period prescribed by the schedule.
Reason (R): Where a Special Law prescribes a period of limitation for filing appeal but there is no provision therefore under Limitation Act, 1963, the period of limitation provided under the Special Law must be treated to be different from that under the Limitation Act.

A

Both (A) and (R) are true and (R) is correct explanation of (A)

B

Both (A) and (R) are true but (R) is not correct explanation of (A)

C

(A) is true but (R) is false

D

(A) is false but (R) is true

Besides the mortgagor, any of the following persons may redeem or institute a suit for redemption of, the mortgaged property. These persons are:
(1) any person (other than the mortgagee of the interest sought to be redeemed) who has any interest in, or charge upon, the property mortgaged or in or upon the right to redeem the same.
(2) any surety for the payment of the mortgagedebt or any part thereof.
(3) any creditor of the mortgagor who has in a suit for administration of his estate obtained a decree for sale of the mortgaged property.

A

Only (1) and (2) are correct

B

Only (2) and (3) are correct

C

Only (1) and (3) are correct

D

All (1), (2) and (3) are correct

The period of limitations mentioned in Schedule of the Act for a suit relating to accounts, contracts, declarations, decrees, suits relating to movable property, etc. is . . . . . . . .

A

4 years

B

6 years

C

2 years

D

3 years

Assertion (A): Section 5 of Limitation Act, 1963 empowers the Court to admit a suit after the prescribed period if the plaintiff satisfies the Court that he had sufficient cause for not instituting the suit.
Reason (R): Even an appeal may be admitted after the prescribed period if the appellant shows sufficient cause for not preferring the appeal within the prescribed period.

A

Both (A) and (R) are true and (R) is correct explanation of (A)

B

Both (A) and (R) are true but (R) is not correct explanation of (A)

C

(A) is true but (R) is false

D

(A) is false but (R) is true

Provision for suits, etc. for which the prescribed period is shorter than the period prescribed by the Indian Limitation Act, 1908, is contained in:

A

Section 28 of the Limitation Act, 1963

B

Section 29 of the Limitation Act, 1963

C

Section 30 of the Limitation Act, 1963

D

Section 31 of the Limitation Act, 1963

Where two properties belong to same owner, one property is mortgaged to secure one debt and both properties are mortgaged to secure another debt and the former debt is paid out of the former property, each property is:

A

Liable to contribute retably to the latter after deducting the amount of former debt from the value of property out of which it has been paid

B

Not liable to contribute retably to the latter after deducting amount of former debt

C

Debt liable to be deducted amount only

D

None of the above

As per Wildlife Protection Act, 1972; there is provision for absolute protection and offence in which of the following schedule? 1. Schedule-1 2. Schedule-2 3. Schedule-3 4. Schedule-4

A

1 and 3

B

2 and 4

C

1, 2 and 4

D

1 and 2

Which one of the following pairs of schedules in the Constitution of India and their contents is NOT correctly matched? Schedule Content 1) Eighth Schedule Languages 2) Second schedule The forms of oaths and affirmations 3) Fourth Schedule Allocation of seats in the Council of States 4) Tenth Schedule Provisions as to disqualification on the ground of defection

A

1, 3 and 4

B

1 and 3 only

C

4 only

D

2 only

Subject to the pecuniary or other limitations prescribed by any law Suits for recovery of possession of immovable property must be instituted in the court

A

Within whose jurisdiction both the parties reside

B

Within whose jurisdiction the defendant resides

C

Within whose jurisdiction the plaintiff resides

D

Within whose local limits of jurisdiction the property is situated

The period prescribed of limitations mentioned in Schedule of the Act for suits related to mortgaged property is . . . . . . .

Related Questions