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Guarantee

The surety must be competent to contract. The debtor need not be competent. What about the Creditor? Does he need to be competent?


Aman Mahajan

Aman Mahajan

CA Inter

18K+

26-Jan-21 17:46

10

Answers (4)

Best Answer

Simple, the guarantee contract is between creditor and surety....so to become a valid contract , parties entering into contract should be competent. Debtor need not be competent.


Star Ca

Star Ca

CA Inter

3K+

23-Feb-21 22:42

Nothing on creditor has been mentioned


Venkateshwara Prabhu

Venkateshwara Prabhu

CA Inter

16K+

26-Jan-21 19:42

Nothing on creditor has been mentioned

?


Aman Mahajan

Aman Mahajan

CA Inter

18K+

26-Jan-21 20:36

Yes, creditor and surety both needs to be competent


Sahibdeep Singh

Sahibdeep Singh

Moderator

27-Jan-21 10:23