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Section 136 -The Indian Contract Act, 1872

The Indian Contract Act, 1872

 

136. Surety not discharged when agreement made with third person to give time to principal debtor 

 

Where a contract to give time to the principal debtor is made by the creditor with a third person, and not with the principal debtor, the surety is not discharged.

 

Illustration

C, the holder of an overdue bill of exchange drawn by A as surety for B, and accepted by B, contracts with M to give to B. A is not discharged.

 

 

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The Indian Contract Act, 1872

 

 

Indian Laws – Bare Acts

 

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