Indian Contract Act, 1872
21. Effect of mistakes as to law
A contract is not voidable because it was caused by a mistake as to any law in force in 6[India]; but a mistake as to a law not in force in 6[India] has the same effect as a mistake of fact.
7 [* * * ]
A and B make a contract grounded on the erroneous belief that a particular debt is barred by the Indian Law of Limitation; the contract is not voidable.