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PART III.
Extension of Limitation Periods in case of Disability, Acknowledgement, Part Payment, Fraud and Mistake.
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Chapter I.
Interpretation.
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Interpretation (Part III).
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47.—In this Part of this Act—
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(a) “debt” includes any liquidated pecuniary claim;
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“statute-barred debt” means a debt in respect of which the period fixed by this Act for the bringing of an action to recover it has expired;
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“successor” means—
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(i) in relation to a mortgagee—his personal representatives and any other person on whom the rights under the mortgage devolve, whether on death or bankruptcy or the disposition of the property or the determination of a limited estate or interest in settled property or otherwise,
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(ii) in relation to a person liable in respect of a debt—his personal representatives and any other person on whom the liability in respect of the debt devolves, whether on death or bankruptcy or the disposition of the property or the determination of a limited estate or interest in settled property or otherwise;
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(b) references to a right of action shall include references to—
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(i) a cause of action,
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(ii) a right to receive money secured by a mortgage or charge on any property or to recover proceeds of the sale of land,
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(iii) a right to receive a share or interest in the personal estate of a deceased person;
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(c) references to the date of the accrual of a right of action shall—
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(i) in the case of an action for an account—be construed as references to the date on which the matter arose in respect of which an account is claimed,
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(ii) in the case of an action upon a judgment—be construed as references to the date on which the judgment became enforceable,
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(iii) in the case of an action upon a judgment mortgage—be construed as references to the date on which the judgment became enforceable and not to the date on which it was registered as a mortgage,
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(iv) in the case of an action to recover arrears of a rentcharge, a conventional rent, dower or interest or damages in respect thereof—be construed as references to the date on which the arrears became due;
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(d) references to a person in possession of land—
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(i) shall, in the case of a rentcharge, be construed as including references to a person who is in possession of the land charged, but does not pay the rentcharge, and
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(ii) shall, in the case of land (including a rentcharge) held under a lease in writing reserving a yearly conventional rent of not less than twenty shillings, be construed as including references to a person who, wrongfully claiming to be entitled to the land in reversion immediately expectant on the determination of the lease, is in receipt of the conventional rent;
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(e) references to a debt—
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(i) shall, in the case of a rentcharge or of a conventional rent, be construed as references to a gale of the rentcharge or of the conventional rent,
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(ii) shall, in the case of interest, be construed as references to an instalment of the interest;
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(f) references to a mortgagee who is by virtue of the mortgage in possession of any mortgaged land shall include references to a mortgagee who has obtained possession of the mortgaged land by virtue of an order of a Court.
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