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Contract of indemnity and guarantee

Corporate & Other Laws

Sir ..is this continuing guarantee or specific guarantee? Why? Example 2 sir

Prasanna Jannu

CA Inter

★ 7K+

10-Oct-20 10:03

456

Answers (4)

Continuing. Multiple bills.

CA Suraj Lakhotia

Admin

10-Oct-20 12:32

Sir continuing guarantee can be revoked by giving notice...to creditors.. In this A gave notice ..but still he is liable to guaranteed amount..

Thread Starter

Prasanna Jannu

CA Inter

★ 7K+

10-Oct-20 12:42

Revocation is given after acceptance. Hence liable.

CA Suraj Lakhotia

Admin

10-Oct-20 13:09

Tq sir

Thread Starter

Prasanna Jannu

CA Inter

★ 7K+

10-Oct-20 13:10

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