Section 128 in The Indian Contract Act, 1872 [Entire Act]
liability of the surety is co-extensive with that of the principal debtor, unless it is otherwise provided by the contract. Illustration A guarantees
Search Results Page
Search Results
1 - 10 of 27919 (2.37 seconds)Punjab National Bank And Ors vs Surendra Prasad Sinha on 20 April, 1992
valued at Rs. 41,292 on its maturity on 1.11.1988.
The principal debtor defaulted marking payment of the
debt. When the respondent ... payable by the principal debtor as on December 1988
and the balance sum of Rs.14,254.40 was credited to the S.B.
Account
Section 133 in The Indian Contract Act, 1872 [Entire Act]
surety's consent, in the terms of the contract between the principal debtor and the creditor, discharges the surety as to transactions subsequent
Section 139 in The Indian Contract Act, 1872 [Entire Act]
eventual remedy of the surety himself against the principal debtor is thereby impaired, the surety is discharged. Illustrations (a) B contracts to build a ship
Section 126 in The Indian Contract Act, 1872 [Entire Act]
Indian Contract Act, 1872
126. 'Contract of guarantee', 'surety', 'principal debtor' and 'creditor'—
A 'contract of guarantee' is a contract to perform the promise ... respect of whose default the guarantee is given is called the 'principal debtor', and the person to whom the guarantee is given is called
Section 84 in The Multi-State Co-Operative Societies Act, 2002 [Entire Act]
admitted or not; (b) a claim by a surety against the principal debtor where the multi-State co-operative society has recovered from the surety ... respect of any debt or demand due to it from the principal debtor as a result of the default of the principal debtor, whether such
Section 141 in The Indian Contract Act, 1872 [Entire Act]
benefit of every security which the creditor has against the principal debtor at the time when the contract of suretyship is entered into, whether
Section 134 in The Indian Contract Act, 1872 [Entire Act]
Discharge of surety by release or discharge of principal debtor.—
The surety is discharged by any contract between the creditor and the principal debtor ... which the principal debtor is released, or by any act or omission of the creditor, the legal consequence of which is the discharge
Section 38 in The Negotiable Instruments Act, 1881 [Entire Act]
contract to the contrary, also liable thereon as a principal debtor in respect of each subsequent party. Illustration A draws a bill payable ... between E and B, B is the principal debtor, and A, C and D are his sureties. As between
Section 140 in The Indian Contract Act, 1872 [Entire Act]
Where a guaranteed debt has become due, or default of the principal debtor to perform a guaranteed duty has taken place, the surety, upon payment ... invested with all the rights which the creditor had against the principal debtor