Suits on foreign contracts

Suits on foreign contracts.-

1. (1) Suits instituted in the State on contracts entered into in a foreign country are subject to the rules of limitation contained in this Act.
2. (2) No foreign rule of limitation shall be a defence to a suit instituted in the State on a contract entered into in a foreign country, unless the rule has extinguished the contract and the parties were domiciled in such country during the period prescribed by such rule.