The Limitation Law, which was passed by the British in 1859, addressed

The Limitation Law, which was passed by the British in 1859, addressed which one of the following issues?

Loan bonds would not have any legal validity.

Loan bonds signed between money-lender and Ryots would have validity only for three years.

Land bonds could not be executed by moneylenders.

Loan bonds would have validity for ten years.

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This question was previously asked in

UPSC CDS-1 – 2019

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The correct answer is B) Loan bonds signed between money-lender and Ryots would have validity only for three years.

The Limitation Law, passed in 1859 by the British, stipulated that a bond of loan would have legal validity for only three years. This meant that a moneylender could not sue a Ryot (peasant) for the recovery of a debt based on a bond after three years had passed since the bond was signed.

This law was intended to limit the period for which old debts could be claimed. However, it sometimes worked against the Ryots during periods of distress. Moneylenders would often get new bonds signed every few years or use other means of debt recovery outside the legal framework, leading to exploitation. This law, among other factors, contributed to agrarian discontent, such as the Deccan Riots of 1875, where Ryots attacked moneylenders’ houses and shops to burn debt bonds and deeds.

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