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A time barred debt can be claimed
As a set-off
As a counter claim
As a fresh suit
None of the above
- Time-barred Debt: This refers to debt that cannot be collected through court because the statute of limitations has expired.
- Option 1: As a set-off
- Set-off: A claim by the debtor to subtract their own claims against the creditor.
- Correct Answer: Time-barred debts can sometimes be used as a set-off.
- Option 2: As a counterclaim
- Counterclaim: A separate claim against the plaintiff in the course of the legal action.
- Can include time-barred debts under certain jurisdictions.
- Option 3: As a fresh suit
- Fresh suit: Initiating a new lawsuit to recover the debt.
- Not possible for time-barred debts as the law does not allow filing a fresh suit.
- Option 4: None of the above
- Not applicable, as time-barred debts can be claimed as a set-off.
By: santosh ProfileResourcesReport error
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