Amwelladmin
Created page with "6 '''Special time limits for demand loans''' <br> :(1) The limitation period for simple contracts as set out in Section 5 will not apply to “demand loans”. Instead, the cause of action on a demand loan will accrue, and the limitation period will begin to run as if it were a simple contract, from the date on which a creditor first demands repayment in writing. :(2) A “'''demand loan'''” is a loan with no defined repayment date and that is repayable on demand,..."