Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 143 -The Indian Contract Act, 1872

The Indian Contract Act, 1872

 

143. Guarantee obtained by concealment, invalid

 

Any guarantee which the creditor has obtained by means of keeping silence as to meterial circumstances, is invalid.

 

Illustrations

 

(a) A engages B as clerk to collect money for him. B fails to account for some of his receipts, and A in consequence calls upon him to furnish security for his duly accounting. C gives his guarantee for B’s duly accounting. A does not acquaint C with B’s previous conduct. B afterwards makes default. The guarantee is invalid.

 

(b) A guarantees to C payment for iron to be supplied by him to B to the amount of 2,000 tons. B and C have privately agreed that B should pay five rupees per ton beyond the market price, such excess to be applied in liquidation of an old debt. This agreement is concealed from A. A is not liable as a surety.

 

 

Previous | Next

 

The Indian Contract Act, 1872

 

 

Indian Laws – Bare Acts

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2024 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation