application was made were the widow and the present appellants, the sureties ; and the relief prayed was that they might be declared liable for mesne ... profits of the 117 villages, the liability of the sureties being limited to one lac only. The widow put in a defence which
they were arrears of land-revenue due by him;
(b) from his surety, if any, - as if they were arrears of land-revenue ... section (2) of that section provides for recovery of the amounts from sureties and owners of the property given as collateral security. Sub-section
company, and for which three of its directors had become sureties. The directors had no borrowing powers, but it was admitted that the money ... pointed out that in the deed itself the company is called surety. It is common ground that at the time of the execution
Indian
Contract and Specific Relief Act, 10th Edition.
"Co-extensive.- Surety's liability is co-extensive with that of the
principal debtor ... surety's liability to pay the debt is not removed by reason of
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the creditor
liabilities are well established and indeed were not in issue. A surety is discharged if the creditor, without his consent, either releases the principal debtor ... time. In each case the ground of the discharge is that the surety's right to pay the debt at any time and, after
supra). Section 141 of the Indian Contract Act, 1872, lays down :---
A surety is entitled to the benefit of every security which the creditor ... time when the contract of suretyship is entered into, whether the surety knows of the existence of such security or not; and, if the creditor
given judgment for the plaintiffs. The suit was brought on a surety bond given by the defendants guaranteeing a loan on mortgage, which the plaintiffs ... wife was a sister of the respondents. The defence was that the sureties had been released by the subsequent dealings between the creditors
discharged from his debt and that no obligation of the surety survived. This contention found favour with the trial Court. All the other contentions ... received also preference shares for the other half does not discharge the surety. The statement of law is found in all recognized books on company
year 1927-1928, and one Mohite was offered and accepted as surety for the amount of Rs. 4,851, which was agreed upon ... bond taken from him provided :-
Therefore I, Ganpat Narayan Mohite stand surety for the abovenamed Martand Narayan Indulkar and make an agreement for myself
though his brother in
law filed an affidavit that he would stand surety for the
petitioner and that he undertakes that the petitioner will
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to the life of the complainant. The surety furnished by the
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