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Explain the nature and extent of surety liability. State the circumstances in which surety is discharged from his liability. Therefore, where the liability of the principal is held to be not enforcement on the ground of the contract being illegal, there is no question of surety being made liable. If the principal debtor happens to be minor and the agreement made by him is void, the surety too cannot be made liable in respect of the same because the liability of the surety is coextensive with that of the principal debtor.

February 28, 2021
  Liability of Surety:- According to Section 128, “The liability of the surety is coextensive with that of the principal debtor, unless it i...Read More

Contract of Agency Define pledge. Discuss the essential elements of a pledge. He is entitled to remuneration and other expenses properly incurred by him in the agency. But if he is guilty of misconduct, he is not entitled to receive the remuneration. Illustration: A employs B to recover Rs. 1000 from C. Through B’s misconduct, the money is not recovered. B is entitled to no remuneration for his services and must make good the loss.

February 27, 2021
Introduction:-           The law of agency governs situations where one person (agent) is appointed to act as the representative of another ...Read More

Discuss the various kinds of Guarantee. and also discuss Revocation or termination of a continuing guarantee. A becomes surety to B for the amounts he lends to C up to Rs.10,000 at 20 percent per annum. Afterwards, when B had already lent Rs.6,000 to C they mutually agree that the rate of interest for the subsequent loans should be reduced to 10 percent only. A is discharged from the liability for the subsequent loans.

February 25, 2021
Kinds of Guarantee:- A guarantee may be given for the payment of debt , for the payment of the price of goods sold on credit, the good condu...Read More
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