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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WritingLaw » Contract Act, 1872 » Section 136 Contract Act Law Study Material by WritingLaw
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