Acknowledgement - Indian Laws - General

According to Black's Law Dictionary an Acknowledgement means as under: TO acknowledge is to admit, affirm, declare, testify, avow, confess or own as genuine, Favello v. Bank of America Nat. Trust Savings Assn, 24 Cal App. 342, 74 P. 1057. Admission or affirmation of obligation or responsibility. Weyerhaeuser Timber Co. v. Marshall, C.C.A. Wash., 102 F. 78. (sic.) states have adopted the Uniform Acknowledgement Act. THE debtor's acknowledgement of the creditor's debt and or right of action that will revive the enforceability of a debt barred by the statute of limitations. Part payment of obligation which tolls statute of limitations is a form of acknowledgement of debt . In re: Badger's Estate, 156 Kan. 734. 37 P. 198. According to stroud's Judicial dictionary Acknowledgement means as under: (1) an acknowledgement, in writing of a debt......so as to take such debt out of the Limitation Act.....(1) must admit that debt is due, and (2) promise, or justify the inference of promise, of payment unconditionally, or (if conditionally) it must be shown that the condition has been accomplished.... A statement in a balance sheet presented to a creditor-shareholder of a Company and signed by the Directors or their agents is sufficient acknowledgement (Jones v. Bellgrove Properties, 1949), and an acknowledgement is within the section if it indicates that a debt is due, even if it does not state the amount (Dungate v. Dungate, (1965) 1 W.L.R. 1577. But a signature on a balance sheet, notwithstanding that the debt appeared therein, was held not to be a sufficient acknowledgement (Consolidated Agencies v. Bertram, (1965) A.C. 470. An acknowledgement by one of the several executors suffices (Re Macdonald [1897] 2 Ch. 181, distinguishing Tullick v. Dunn, Ry. Moo. 416, and Scholey v. Walton, 13 L.J. Ex. 122; see Astbury v. Astbury, infra). Acknowledges the claim (Section 23(4) means acknowledges the debt or other liquidated pecuniary amounts (Good v. Parry, [1963] 2 W.L.R. 846. Acknowledgement (Section 24(1) means acknowledgement of liability..... (2) An acknowledgement of a Deed, or Speciality, by writing or part payment or part satisfaction (Civil Procedure Act, 1833 (c. 42), Section 5 will suffice if it contains a clear admission of the speciality debt (see Moodie v. Bannister, 28 L.J. Ch. 881; Howcutt v. Bonser, 3Ex. 499; Forsyth v. Bristowe, 8 Ex. 721, [See also Read v. Price (1909) 1 K.B. 7; affirmed (1909) 2 K.B. 724, cited Party Liable, where it was held that parole evidence is admissible to prove the contents of a written acknowledgement which has been lost; see now Limitation Act, 1939, Sections 23,24. As to acknowledgement is writing within Civil Procedure Code, 1908, Section 5 see Viscount Burnham v. Atlantic Pacific fibre Importing Manufacturing Co. Ltd., 44 T.L.R. 702. [DAYA CHAND UTTAM PRAKASH JAIN- 1997 (3) TMI 623 - DELHI HIGH COURT