continuing guarantee

Corporate & Other Laws

sujith guaranteed charan,to supply goods to abinav for a period of 12 months. abhinav takes supply of goods for 1000rs in 3 months. later on sujith withdarws guarantee by giving notice to charan,abhinav doesn't about sujith's withdrawal and makes further purchases of 2000. can charan collect this 2000rs from sujith or abhinav

lohith perumalla

CA Inter

★ 8K+

04-May-23 07:53

424

Answers (4)

abhinav doesn't know about sujith's withdrawal of guarantee. though charan know about withdrawal of guarantee without informing to abhinav made supply to abhinav. can charan recover amount from abhinav

Thread Starter

lohith perumalla

CA Inter

★ 8K+

04-May-23 07:58

Charan can collect the 2000 from abinav only... Because. Once the notice is given to crs by surety It means that surety is discharged for further future transactions Even though sujith is given a credit to abinav crs can collect the money 💰🤑 from abinav....only and not a sujith

Balachandar S

CA Inter

★ 59K+

04-May-23 22:00

Read this green 🍏 color line for ur understanding and let me know once u understood means 😌

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Balachandar S

CA Inter

★ 59K+

04-May-23 22:02

Balachandar S

Read this green 🍏 color line for ur understanding and let me know once u understood means 😌

Understood bro

Thread Starter

lohith perumalla

CA Inter

★ 8K+

04-May-23 22:31