On 1^st January, 2010, an amount is deposited by the plaintiff with the defendant, not being a loan. On 1^st January, 2012, demand is made by the plaintiff for repayment of the deposit. On 1^st January, 2014, suit for recovery is filed for the amount of deposit. Is this suit within limitation?

A. The suit filed on 1^st January, 2014 is time barred as it is filed three years after having made the deposit on 1^st January, 2010

B. The suit filed on 1^st January, 2014 is within limitation because limitation of three years commences on 1^st January, 2012

C. Neither (1) nor (2) above

D. The suit is not time barred only in case where the deposit is made with a bank and not a private person

Answer: Option B