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    Question

    Under Section 14, what is the effect of the

    acknowledgment of liability in writing?┬а
    A It starts a new limitation period from the date of acknowledgment Correct Answer Incorrect Answer
    B It waives all limitation periods Correct Answer Incorrect Answer
    C It extends limitation period by three years Correct Answer Incorrect Answer
    D It is irrelevant to limitation Correct Answer Incorrect Answer
    E It only applies to mortgages Correct Answer Incorrect Answer

    Solution

    Section 14 states written acknowledgment of liability restarts limitation period from acknowledgment date [Section 14].

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