Ramen Chetty vs Ferdinands – clr volume 2 page 194

In the case between Ramen Chetty (and his assignees, as plaintiffs) and Ferdinands (representing the obligors on the bond), the court addressed the issue of whether a bond, enforceable only after failure of payment upon three months’ notice, is assignable and when the statutory limitation period for its enforcement under section 6 of Ordinance No. 22 of 1871 begins to run. It was held that the action on the bond is maintainable by the assignees in their own name and that the limitation period commences upon breach of the payment condition—that is, upon non-payment three months after notice, not from the bond’s execution date. This decision reaffirmed the principle that for conditional bonds, the right to sue accrues only upon breach of the specific condition, distinguishing such instrument