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[Cites 0, Cited by 0] [Section 129] [Entire Act]

Union of India - Subsection

Section 129(b) in The Indian Contract Act, 1872

(b)A guarantees payment to B, a tea-dealer, to the amount of £ 100, for any tea he may from time to time supply to C. B supplies C with tea of above the value of £ 100, and C pays B for it. Afterwards, B supplies C with tea of the value of £ 200. C fails to pay. The guarantee given by A was a continuing guarantee, and he is accordingly liable to B to the extent of £ 100.