PrescriptionAcknowledgment of debtRTGS dollarsInterbank rateExtension of time
Tags
Debt recoveryPrescriptionCurrency conversionAcknowledgment of debt
legislation
Statutes Cited
Prescription Act
Finance (No. 2) Act
ai analysis
Case Summary
Key Issues
{"issue_text":"Whether the respondent's claim had prescribed","issue_type":"mixed","dispositive":"yes","related_facts":"Extensions granted, acknowledgment of debt, date of summons"}
{"issue_text":"Whether the debt should be paid in US dollars or RTGS at interbank rate","issue_type":"law","dispositive":"no","related_facts":"Date of judgment, currency conversion laws"}
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background
Facts of the Case
Background
The respondent sued the appellant for payment of US$58,500 being the balance for 1,500 army rucksack bags sold and delivered. The appellant signed acknowledgments of debt but later denied liability, then admitted liability but pleaded prescription. The High Court found the claim had not prescribed due to extensions granted.
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