Section 24: Effect of acknowledgment or part payment

on persons other than maker or recipient (1) An acknowledgment of the title to any land or mortgaged personalty by any person in possession of it shall bind all other persons in possession during the ensuing period of limitation. (2) A payment in respect of a mortgage debt by the mortgagor or any person in possession of the mortgaged property shall, so far as any right of the mortgagee to foreclose or otherwise to recover the property is concerned, bind all other persons in possession of the mortgaged property during the ensuing period of limitation. (3) Where two or more mortgagees are by virtue of the mortgage in possession of the mortgaged land, an acknowledgment of the mortgagor's title or of his or her equity of redemption by one of the mortgagees shall only bind him or her and his or her successors and shall not bind any other mortgagee or his or her successors, and where the mortgagee by whom the acknowledgment is given is entitled to a part of the mortgaged land and not to any ascertained part of the mortgage debt, the mortgagor shall be entitled to redeem that part of the land on payment, with interest, of the part of the mortgage debt which bears the same proportion to the whole of the debt as the value of the part of the land bears to the whole of the mortgaged land. (4) Where there are two or more mortgagors, and the title or right to redemption of one of the mortgagors is acknowledged in the circumstances referred to in subsection (3), the acknowledgment shall be deemed to have been made to all the mortgagors. (5) An acknowledgment of any debt or other liquidated pecuniary claim shall bind the acknowledger and his or her successors but not any other person; except that an acknowledgment made after the expiration of the period of limitation prescribed for the bringing of an action to recover the debt or other claim shall not bind any successor on whom the liability devolves on the determination of a preceding estate or interest in property under a settlement taking effect before the date of the acknowledgment. (6) A payment made in respect of any debt or other liquidated pecuniary claim shall bind all persons liable in respect of the debt or other claim; except that a payment after the expiration of the period of limitation prescribed for the bringing of an action to recover the debt or other claim shall not bind any person other than the person making the payment and his or her successors, and shall not bind any successor on whom the liability devolves on the determination of a preceding estate or interest in property under a settlement taking effect before the date of the payment. (7) An acknowledgment by one of several personal representatives of any claim to the personal estate of a deceased person, or to any share or interest in it, or a payment by one of several personal representatives in respect of any such claim shall bind the estate of the deceased person. (8) In this section, the expression "successor", in relation to any mortgagee or person liable in respect of any debt or claim, means his or her personal representatives and any other person on whom the rights under the mortgage or, as the case may be, the liability in respect of the debt or claim devolve, whether on death or bankruptcy or the disposition of property or the determination of a limited estate or interest in settled property or otherwise. Fraud and mistake