Section 127 in Jammu and Kashmir Contract Act, Svt. 1977 (1920 A.D.)
127. Consideration for guarantee
Anything done, or any promise made, for the benefit of the principal debtor may be a sufficient consideration of the surety for giving the guarantee.Illustrations(a)B requests A to sell and deliver to him goods on credit. A agrees to do so provided C will guarantee the payment of the price of the goods. C promises to guarantee the payment in consideration of A's promise to deliver the goods. This is a sufficient consideration for C's promise.(b)A sells and delivers goods to B. C afterwards requests A to forbear to sue B for the debt for a year, and promises that if he does so, C will pay for them in default of payment by B. A agrees to forbear as requested. This is a sufficient consideration for C's promise.(c)A sells and delivers goods to B. C afterwards, without consideration, agrees to pay for them in default of B. The agreement is void.
