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Suit No. 482 of 1969, decided on 9th June 1975.

‑‑ S. 19‑Acknowledgment of liability‑Promissory note‑Not an acknowledgment of existing liability but merely promise to pay certain sum in future‑Promissory note‑A security rather than acknowledg ment‑Negotiable Instruments Act (XXVI of 1881), S. 4. Lallu Mal v. Pandit Beoti Ram A I R 1924 All. 70 ref.

Ss. 196 & 197‑Defendant manager of plaintiff ‑Bank though not empowered to grant overdraft in question yet plaintiff electing to ratify same by conduct, debiting interest in account, relying on promissory note executed by person securing money on overdraft, and suing on agreement of hypothecation itself‑Plaintiff, held, knew unauthorised act of defendant Manager and ratified same by conduct.

Halsbury's Laws of England, 3rd Edn., Vol. 25, Arts. 894 & 896 ref.

Lakshumanan Chetty and others v. Chidambaram Chetty A I R 1919 Mad. 343 held not applicable.

Kandana Venkata Varadaraja Sobandhri Row and another v. Achanta Venkata Subbarayudu A I R 1919 Mad. 692 distinguished.

Sched. I, Art. 85‑Current account‑Suit one for recovery of balance due on mutual, open, and current account‑Suit filed within 3 years of credit entry in account, held, not time‑barred.

Robert Cotton Associates Ltd,. Khorewal v. Khan Karam Hussan Khan and others P L D 1972 S C 109 ; The Relionce Bank Ltd. v. Prafulla Kumar Benerjee P L D 1953 Dacca 200 ; Subba Karan and others v. The State Bank of Pakistan and others P L D 1962 Dacca 1 and Nobadwip Chandra Podder and another v. S. R. Ahmed, Official Receiver, Official Liquidator, Dass Bank Ltd. P L D 1969 Dacca 629 ref.

Mansoorul Arfin for Plaintiff.

S. A. Moulvi for Defendants Nos. 1 and 2.

A. A. Aziz Munshi for Defendant No. 4..

Defendant No. 3 : ‑ Ex parte.

Dates of hearing :10th and 15th April 1975.

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