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Section 137 – The Indian Contract Act, 1872

The Indian Contract Act, 1872

 

137. Creditor’s forbearance to sue does not discharge surety 

 

Mere forbearance on the part of the creditor to sue the principal debtor or to enforce any other remedy against him, dies not, in the absence of any provision in the guarantee to the contrary, discharge the surety.

 

Illustration

B owes to C a debt guaranteed by A. The debt becomes payable. C does not sue B for a year after the debt has become payable. A is not discharged from his suretyship.

 

 

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The Indian Contract Act, 1872

 

 

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