Doubt in Indian Contract Act

Joint promisors: (Section 42) When two or more persons have made a joint promise, then unless a contrary intention appears by the contract, all such persons must jointly fulfil the promise. If any of them dies, his legal representatives must, jointly with the surviving promisors, fulfil the promise. If all of them die, the legal representatives of all of them must fulfil the promise jointly.

Anonymous CA

CA Foundation

★ 4K+

04-May-20 06:16

My doubt is when all the joint promisors die the legal representatives only liable to extend of promisor's assets or the legal representavtives should pay from their personal assets if the amount to repay is more than the promisor's assets.?

Anonymous CA

CA Foundation

★ 4K+

04-May-20 06:16

Is the legal representative should definitely pay from his pockets if the promisor liability is more than the promisor's asset?

Anonymous CA

CA Foundation

★ 4K+

04-May-20 06:16

After death, only the estate (assets) of the promisor can be used. Personal assets of legal representatives cannot be used.

Suraj Lakhotia

Admin

04-May-20 07:06

In case of all the joint promisors are dead also sir?

Anonymous CA

CA Foundation

★ 4K+

04-May-20 07:13

There representatives of all must fulfil the promise

sai t

CA Foundation

★ 300

04-May-20 08:54