7 Extinction of obligations by prescriptive periods of twenty years
Prescription and Limitation (Scotland) Act 1973 (1973 c 52) | Legislation

7  Extinction of obligations by prescriptive periods of twenty years

(1)ÌýÌýÌýÌý If, after the date when any obligation to which this section applies has become enforceable, the obligation has subsisted for a continuous period of twenty years—

(a)ÌýÌýÌýÌý without any relevant claim having been made in relation to the obligation, and

(b)ÌýÌýÌýÌý without the subsistence of the obligation having been relevantly acknowledged, then as from the expiration of that period the obligation shall be extinguished:

Provided that in its application to an obligation under a bill of exchange

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