A qualified admission by a party who relies on an objection, which would at any time have been a good defence to the action, does not take a case out of the Statute of Limitations. An agreement between the holder and the acceptor of a bill (dishonoured for non-payment), that the acceptor shall pay to the holder the amount of the bill. and no more, discharges the drawer, although his assignees (he being then a bankrupt) are parties to such agreement.
Citations:
[1815] EngR 106, (1815) 1 Stark 7, (1815) 171 ER 385 (A)
Links:
Insolvency
Updated: 02 May 2022; Ref: scu.335916