Option 1: This option suggests that loan bonds would not have any legal validity. However, this is not correct as the Limitation Law did not invalidate loan bonds.
Option 2: This option accurately states that loan bonds signed between money lenders and Ryots would have validity only for three years. The Limitation Law, passed by the British in 1859, indeed imposed a limitation of three years on the validity of loan bonds between money lenders and Ryots. This means that after three years, the money lender could no longer enforce the loan bond against the Ryot.
Option 3: This option suggests that loan bonds could not be executed by moneylenders. However, this is not accurate as the Limitation Law did not prevent moneylenders from executing loan bonds.
Option 4: This option suggests that loan bonds would have validity for ten years. However, this is not correct as the Limitation Law imposed a limitation of three years, not ten years.
Therefore, the correct answer is option 2, as it accurately states that the Limitation Law addressed the issue of loan bonds signed between money lenders and Ryots having validity only for three years.