This section is from the book "The Law Of Contracts", by William Herbert Page. Also available from Amazon: Commercial Contracts: A Practical Guide to Deals, Contracts, Agreements and Promises.
An admission of the existence of the debt, coupled with a refusal to pay it,1 whether such refusal is based upon the ground of poverty of the debtor,2 or on the fact that he is angry because he has been sued,3 or on the fact, though untrue, that the debt has been paid,4 or that the debt is barred by limitations,5 is insufficient as an acknowledgment. So a statement by a vendee of realty in possession that he believes that he can make a payment in a year and that if he does not make such payment he will give up the land, asking the vendor to " give him a show," is not an unequivocal acknowledgment of a subsisting debt.6
 
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