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
earlier, in the agreement of guarantee
itself. The agreement of guarantee clearly provides that the
guarantee shall be a continuing guarantee and shall ... 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
what is a `continuing guarantee'. The guarantee which extends to a series of transactions is called a `continuing guarantee'. Section ... concerned with continuing guarantee but an "ordinary guarantee". Section 129 of the Contract Act provides that a guarantee which extends to a series
limitation and the guarantee bond was a deed of simple
guarantee. He has submitted that the guarantee was a
continuing guarantee as contemplated under Section ... simple in nature and it was not continuous and
it is not continued guarantee and, therefore, invoking under
Section 129 of the Indian Contract
guarantee and by drawing attention to some of the clauses contained
in the said deed, has submitted categorically that the said personal
guarantee is continuing ... conjoint reading
of these clauses and deed of guarantee is clearly suggesting that this
guarantee is continuing, it has clear nexus to the original credit
guarantee and by drawing attention to some of the clauses contained
in the said deed, has submitted categorically that the said personal
guarantee is continuing ... conjoint reading
of these clauses and deed of guarantee is clearly suggesting that this
guarantee is continuing, it has clear nexus to the original credit
period of limitation against the guarantor also in case of a continuing guarantee. In that connection, it was observed by Raman Nayar, J. as under ... said terms as creating contract of continuing guarantee and observed:
The guarantee was to be a continuing guarantee for the ultimate balance which shall remain
permitted to get
the vehicle in question released after furnishing
necessary continuing bank guarantee as shown in
notice FormJ and on fulfillment of other ... directed the Authorized Officer to release the
vehicle after obtaining necessary continuing bank
guarantee as shown in notice FormJ and on
fulfillment of other
permitted to get
the vehicle in question released after furnishing
necessary continuing bank guarantee as shown in
notice FormJ and on fulfillment of other ... directed the Authorized Officer to release the
vehicle after obtaining necessary continuing bank
guarantee as shown in notice FormJ and on
fulfillment of other
permitted to get
the vehicle in question released after furnishing
necessary continuing bank guarantee as shown in
notice FormJ and on fulfillment of other ... directed the Authorized Officer to release the
vehicle after obtaining necessary continuing bank
guarantee as shown in notice FormJ and on
fulfillment of other
