BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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frauds
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estoppel
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limitations
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none of these
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Detailed explanation-1: -(b) 12 years for suits relating to possession of immovable property and 30 years for mortgaged property (c) One year for suit relating to torts (3 years for compensation in certain cases (d) 30 to 90 days in case of appeals under Civil Procedure Code and Criminal Procedure Code.
Detailed explanation-2: -According to the Limitation Act of 1980, lawsuits founded on the law of tort (i.e., civil wrongs) or infringement must be filed within 6 years of the claim for damages arising, which is either the date of the act or omission or the date of the breach of contract, respectively.
Detailed explanation-3: -Typically, the period of limitation for instituting civil suits is three years from the date on which the cause of action arose. There are exceptions: the limitation for a suit to recover possession of immovable property is 12 years, and the limitation for a claim founded on tort is ordinarily one year.