Understanding the Concept of Guarantee In commercial and financial transactions, trust is essential. However, when one party doubts another’s ability to fulfill obligations, a third […]
Tag: rights of surety
41. Define the “Contract of Guarantee”, and discuss the extent of the Liability of the Surety.
Understanding the Contract of Guarantee In everyday business and financial transactions, lenders often rely on guarantees to secure repayment or performance obligations. A Contract of […]
5. What is the nature of a Surety’s authority? State his rights against the principal debtor.
Concept of Suretyship in Contract Law In business and commercial transactions, guarantees play a vital role in ensuring trust and financial security. When one person […]
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 […]
33. Contract of “Suretyship”.
Meaning of Contract of Suretyship A Contract of Suretyship is defined under Section 126 of the Indian Contract Act, 1872. It is a contract in […]
28. Rights of the Surety
Meaning of Surety and His Rights A surety is a person who promises to the creditor to discharge the liability of a principal debtor in […]
23. Contract of Guarantee.
Meaning of Contract of Guarantee A Contract of Guarantee is defined under Section 126 of the Indian Contract Act, 1872. It is a contract where […]
10. Surety.
Meaning of Surety A surety is a person who promises to the creditor to fulfill the debt or obligation of another (the principal debtor) in […]