suit was really one to enforce the guarantee
bond, that the guarantee was a continuing
guarantee and, therefore, the suit could not be
said ... enforce the guarantee bond executed by the defendant. The
guarantee bond itself provides that the guarantee shall be a
continuing guarantee
917
and the defendant
Section 129 . 'Continuing guarantee' A guarantee
which extends to a series of transactions is called a
'continuing guarantee."
" Section ... terms of the guarantee bond, this Court held :
"The guarantee is seen to be a continuing guarantee and
the undertaking by the defendant
principal debtor. Defendants 2 and 3 guarantors. They have executed a continuing guarantee taking up the responsibility that they will also be liable ... Continuing guarantee and the main clause of the guarantee stipulates that this guarantee shall be a continuing security binding on defendants 2 and 3. When
contract. A continuing
guarantee is different from an ordinary guarantee. There is also a difference
between a guarantee which stipulates that the guarantor is liable ... principal debtor.
6. A continuing guarantee is different from ordinary guarantee. There is
difference between a guarantee which stipulates that the guarantor is liable
single transaction and the Guarantee Agreement executed in that behalf is a guarantee for the single transaction and not a continuing guarantee relied upon ... intrinsic material found in the Guarantee Agreement Ex.P.4 it is held that the guarantee is a continuing guarantee and not restricted
liable to pay the
amount in terms of liability under the continuing guarantee. The Tribunal
found that deposit of Rs.64 lacs ... dues. It is also argued that since the
petitioners have submitted continuing guarantee, therefore, in terms of the
guarantee, there cannot be any novation
continuing guarantee'. The guarantee which extends to a series of transactions is called a 'continuing guarantee'. Section 130 of the Act provides ... concerned with continuing guarantee but an "ordinary guarantee". Section 129 of the Contract Act provides that a guarantee which extends to a series
transactions is called a
"continuing guarantee".
Whether in a particular case a guarantee is continuing or not is a question of
the intention ... second clause of the guarantee bond in that case was in the following
terms:
"This guarantee shall be a continuing guarantee and shall apply
thus:
129. Continuing Guarantee -- A guarantee which extends to a series of transaction is called a "continuing guarantee".
10. Although ... continuing guarantee and the main clause of the guarantee stipulates that this guarantee shall be a continuing security binding on defendants 2 and 3. When
transactions is called a "continuing guarantee".
Whether in a particular case a guarantee is continuing or not is a question of the intention ... second clause of the guarantee bond in that case was in the following terms:
"This guarantee shall be a continuing guarantee and shall apply
