Legal aspect of business

(a). Assume that a debt has become time barred. Answer the following connected with the revival of the time barred debt:

(i) When does a debt become time barred and what are its consequences for the creditor?

(ii) Discuss the legal formalities which need to be fulfilled to revive the lapsed debt.

(iii) Which of the parties will be competent to revive the lapsed debt?

(iv)What will be your answer in case the debtor happens to be a minor?

4(b).What is meant by "presumption of undue influence"? Who shall rebut this presumption and in what manner?