In what circumstances is a legal action for the rectification of a current account barred?
A legal action for the rectification of a current account is barred if there is denial and lack of lawful excuse. It can be barred one year after the date of receipt of the statement of account, even if the legal action is based on errors, omissions, or repetitions in the account entries. However, this bar can be lifted if one party insists on the rectification of the account during this period or if the customer can prove that they did not receive any statement of account from the bank throughout the said period.