Daily Email Newsletter (Sign-up Free)

Section 144, Contract Act 1872: Guarantee On Contract Creditor Shall Not Act Until Co-surety Joins

Section 144 under the Chapter VIII (Of indemnity and guarantee) of the Contract Act, 1872 of India - 'Guarantee on contract that creditor shall not act on it until co-surety joins', is reproduced hereunder:—

“Where a person gives a guarantee upon a contract that the creditor shall not act upon it until another person has joined in it as co-surety, the guarantee is not valid that other person does not join.”

No comments:

Post a Comment

In comment with "Name/Url" option, only Name is mandatory to be filled.