1. Facts of the Case 2. Issues in the Case 3. Legal Principles Covered to Support Case Proceedings and Judgement Relevant Provisions – Indian Contract […]
Tag: co-extensive liability
29. ‘A’ advances Rs. 500/- to a minor ‘B’ on the guarantee of ‘X’ on demand for payment. The borrower pleads minority. Can ‘A’ recover the amount from ‘X’.
1. Facts of the Case 2. Issues in the Case 3. Legal Principles Covered a) Competency to Contract – Section 11, Indian Contract Act, 1872 […]
45. What are the essential characteristics of “Contract of Guarantee”? Distinguish between Indemnity and Guarantee.
Understanding Contract of Guarantee In the world of commerce and finance, transactions often involve an element of trust — but trust alone is rarely enough. […]
44. Surety as a favored Debtor
Meaning of Surety as a Favored Debtor A surety is considered a favored debtor under the Indian Contract Act, 1872, particularly Section 141. This principle […]