(1) Except as
expressly provided in this Act, nothing in section 38 contained shall take
away or lessen the effect of any acknowledgment or promise, or of any
acknowledgment by part payment or satisfaction on account of principal or
interest due, and except as aforesaid any such acknowledgment or promise shall
have the same effect as if this Act had not been passed.
(2) No indorsement or
memorandum of any part payment or satisfaction written or made upon any bill
of exchange, cheque, or promissory note by or on behalf of the person to whom
such part payment or satisfaction is made, shall be deemed sufficient proof of
such payment or satisfaction to take the case out of the operation of
section 38(1).
(3) In actions in the
nature of actions founded upon simple contract, no acknowledgment or promise
by words shall be deemed sufficient evidence of any new or continuing contract
whereby to take any case out of the operation of section 38, or to deprive any
party of the benefit thereof, unless such acknowledgment or promise is made or
contained by or in some writing signed by the party chargeable, or by his
agent duly authorised; and where there are 2 or more joint contractors, or
executors or administrators of any contractor, no such joint contractor,
executor or administrator shall lose the benefit of section 38 so as to be
chargeable in respect or by reason only of any written acknowledgment or
promise made and signed by any other or others of them: Provided that nothing
herein contained shall alter or take away or lessen the effect of any payment
of any principal or interest made by any person.
(4) In actions of debt
for rent upon an indenture of demise, in actions of covenant or debt upon any
bond or other specialty, and in actions of debt or scire facias upon any
recognisance, if any acknowledgment has been made either by some writing
signed by the party chargeable or his agent duly authorised, or by part
payment or satisfaction, the person entitled to such action may commence his
action for the money remaining unpaid, and so acknowledged within the time
prescribed by section 38 after such acknowledgment, or in case the person
entitled to such action at the time of such acknowledgment is under disability
as aforesaid, or the party making such acknowledgment is then beyond the seas,
then within the prescribed time after such disability has ceased or such party
has returned from beyond the seas (as the case may be).
(5) Where there are 2
or more co-contractors or co-debtors, whether bound or liable jointly only or
jointly and severally, or executors or administrators of any contractor, no
such co-contractor or co-debtor, executor, or administrator shall lose the
benefit of section 38 so as to be chargeable in respect or by reason only of
payment of any principal, interest, or other money by any other or others of
them.