MEANING OF LIMITATION ACT:-
Limitation Act speaks about limitation of suits or for preferring of appeals or for making applications.
MAXIMS ON WHICH CONCEPT OF LAW OF LIMITATION ACT IS BASED:
- Interest republicae utsit finis litium- In the Interest of the State, there must be an end to the litigation.
- Vigilantibus nor dormiantbus jura, subvenient—Law helps those who are vigilant but not negligent over there rights. (Law helps those who are awake but not asleep).
LAW OF LIMITATION ACT –
Bars the remedy but not the Right. In other words, ‘Limitation Extinguishes Only The Remedy And Not The Right’.
It is clearly explained in case of, Punjab National Bank v. S.P. Singh. The right becomes an enforceable right.
WHAT IS RIGHT?
Right is an interest of a person which is recognized and protected by law.
CLASSIFICATION OF LEGAL RIGHTS ARE –
- Right in Rem and Right in Personam.
- Public Right and Private Right
- Positive Right and Negative Right
- Vested Right and Contingent Right
- Constitutional and Fundamental Rights
- Natural Right and Legal Rights
- Perfect Right and Imperfect Right
- Those rights which are enforceable by law within the limitation period, the Right is Perfect Right and Enforceable by law.
- Those rights which are not enforceable by law is Imperfect Right. The limitation period is not within the period.
- The general principle of limitation is that the court should dismiss any suit instituted, appeal preferred, and application made after the prescribed period of limitation, although limitation has not been set-up as a defense.
- Court has no discretion or inherent powers to condone the delay if the suit was filed beyond the prescribed period of limitation unless the matter was covered by Section 4 to 24 of the limitation act. This power of the court is mandatory and absolute in nature.
APPLICATION OF THE ACT:-
Limitation Act of 1963 applies only to-
- Appeals; And
When any other statute or special ac is applied then that Limitation period is applied to that act. Limitation Act, 1963 does not apply to that Statute or Special Act.
- If the application of that Act is excluded expressly barred by any statute or special laws the Limitation Act can be applied generally.