The Limitation Law, passed in 1859 by the British, stipulated that a bond of loan would have legal validity for only three years. This meant that a moneylender could not sue a Ryot (peasant) for the recovery of a debt based on a bond after three years had passed since the bond was signed.
The Limitation Law, which was passed by the British in 1859, addressed which one of the following issues?
Asked in UPSC CDS 1 2019 · Topic: Economic Impact of British Rule on India (Rise of a New Class of Landlords and Moneylenders)
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Answer: B. Loan bonds signed between money-lender and Ryots would have validity only for three years.
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