Law:

Section:

(a) Contract Act (IX of 1872)-------S. 25(3)---Promissory note expressing promise to pay time-barred debt--­Validity---Agreement or promise made in writing and signed by a person to be charged therewith to pay debt of which creditor might have enforced payment, but for the law of limitation, of suits; would be a valid contract---Promissory note for, or a promise to pay time-barred claim was, thus, valid. P. Ram Pattar v. Viswanath Pattar 45 Mad. 345 and Bhansarilal v. Navalkishors AIR 1958 MP 21 rel. National Bank of Pakistan v. Messrs, Ch. Ilam Din & Co. PLD 1985 Lah. 117 ref. (b) Civil Procedure Code (V of 1908)--- ----O.XXXVII, R.3---Leave to appear and defend suit---Defendant was not entitled to leave on the ground that he had a counter-claim against plaintiff. Messrs, Weiss Biheller and Brooks v. Firm of Habib Bhoy Ganji 120 I.C. 528 and Messrs. Razzaq and Company v. Messrs Riazeda (PVT) Ltd. 1990 CLC 1243 ref. (c) Contract Act (IX of 1872)--- ----S.127---Consideration for guarantee---Continuing guarantee---Effect---Consideration for guarantee as stated in document of guarantee was making or continuing advances or otherwise giving credit or affording banking facilities to principal debtor---Such consideration would thus, consist of making advances; continuing advances; giving credit; and affording banking facilities---Making of advances would refer to future making of advances---Continuing advances, however, has reference to making of advances in future and it has reference also to continuing or not recalling advances already granted---Such guarantees were thus, not without consideration and were valid in circumstances. Paulo Varghese and others v. Ittip Abraham and others AIR 1952 T.C. 202 and Chitty on Contracts Vol. II, 2nd Edn., p. 1018, para.4811 ref. (d) Civil Procedure Code (V of 1908)--- ----O.XXXVII, R. 3---Leave to appear and defend suit---One of the guarantors apart from other grounds, also alleging that he had not signed the document of guarantee and his signatures thereon were forged---On comparison of such signatures with those of his signatures on Vakalatnama and affidavit, it appeared prima facie, that signatures on document of…

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