5-238. ACKNOWLEDGMENT OR NEW PROMISE — EFFECT ON OPERATION OF STATUTE — EFFECT OF PARTIAL PAYMENT. No acknowledgment or promise is sufficient evidence of a new or continuing contract by which to take the case out of the operation of this chapter, unless the same is contained in some writing, signed by the party to be charged thereby; but any payment of principal or interest is equivalent to a new promise in writing, duly signed, to pay the residue of the debt.
History:
[(5-238) C.C.P. 1881, sec. 178; R.S., R.C., & C.L., sec. 4078; C.S., sec. 6631; am. 1923, ch. 49, sec. 1, p. 57; I.C.A., sec. 5-238.]