short) reads thus:-
"127. CONSIDERATION FOR GUARANTEE. - Anything done, or any promise made, for the benefit of the principal debtor, may be sufficient consideration ... past consideration is also good consideration,
26. In Kali Charan's case, it was contended that the surety bond was without consideration, because
provided C will guarantee the payment of the price of the goods. C promises to guarantee the payment in consideration of As promise to deliver ... surety for giving the guarantee.
For the validity of a contract of guarantee, it is adequate consideration if anything is done or any promise made
debtor" and "debtor"; section 127 provides regarding the consideration for guarantee; section 128 deals with "surety's liability"; section ... consideration or object of an agreement. In the instant case, as already pointed out, the consideration and object of the agreement of guarantee or contract
surety for giving the guarantee."
For the validity of a contract of guarantee it is adequate consideration if "anything is done ... past benefit to the principal
debtor can be good consideration for a bond of guarantee. Hence, where a lessee has agreed to pay the amount
without consideration.
12. In the present case, the consideration that anything done for the benefit of the principal debtor is a sufficient consideration ... consideration whatsoever and anything done in the past for the benefit of the principal debtor is no sufficient consideration to the surety for giving guarantee
Debtor" and 'Debtor". Section 127 provides regarding the consideration for guarantee; Section 128 deals with 'Surety's liability; Section ... consideration or object of an agreement. In the instant case, as already pointed out, the consideration and object of the agreement of guarantee or contract
received by the surety. Consideration between the creditor and the principal debtor is a valid and good consideration for the guarantee given by the surety ... amounts to a good consideration. In other words whether past consideration can be a good consideration for a contract of guarantee. Nanak Ram v. Mehin
done for his benefit on that day, the contract of guarantee was without consideration. Since there is a divergence of opinion on this question ... substance therefore in the contention that the letter of guarantee was without consideration or that it was brought about by misrepresentation and that it would
loan of Rs. 71,000 to form
the same as consideration for the guarantee agreement. The
High Court in this regard placed reliance on Nanak ... Thus, so far as the question of any
consideration of the guarantee agreement Exhibit A.8 is
concerned, the same is of no consequence
valid contract of guarantee, then, the said guarantee suffers for lack of consideration. The guarantee was admittedly not given at the time of original sale ... guarantee has to find its existence only in December, 1982. When Ex.A-11 was written this contract of guarantee requires separate consideration and original
