30 Points*
Examine the Impact of 'Limitation Laws'passed by the British in 1859 (2 Marks word limit should not exceed 30)
Answers
In 1859 the British passed a Limitation Law which said that the loan bonds signed between moneylenders and borrowers will be valid only for 3 year.
Money lenders then forced the borrowers to sign the new contracts on every 3rd year.
They didn’t give receipts, entered fictitious numbers in bonds, changed dates and took over their properties. Which led to spread the revolt.
The following are the Impacts of 'Limitation Laws enacted by the British government in India in 1859:
1. According to the law, the bond loans signed between the ryots and the money lender would have the validity for three years only.
2. The ryots (peasants) were forced to sign the bond every three years.
3. On the signing of the new bond, the balanced money was entered as the principal on which a fresh set of interest costs was estimated.