Assistant Manager LAW Interview Questions and Answers

S.17 of Limitation Act deals with effect of fraud or mistake on limitation period. BG stands for Bank Guarantee.

• S.17 of Limitation Act provides that the limitation period for a suit will be extended if the plaintiff was prevented from filing the suit due to fraud or mistake.

• BG or Bank Guarantee is a type of financial instrument issued by a bank on behalf of a customer, promising to pay a certain amount to a third party in case the customer fails to fulfill their contractual o...read more