Section 130(a) in Jammu and Kashmir Contract Act, Svt. 1977 (1920 A.D.)
(a)A, in consideration of B's discounting, at A's request, bills of exchange for C, guarantees to B for twelve months, the due payment of all such bills to the extent of 5,000 rupees. B discounts bills for C to the extent of 2,000 rupees. Afterwards, at the end of three months, A revokes the guarantee. This revocation discharges A from all liability to B for any subsequent discount. But A is liable to B for the 2,000 rupees, on default of C.
