Indian Contract Act (Page 10)

138. Release of one co-surety does not discharge other. Where there are co-sureties, a release by the creditor of one of them does not dischargeRead More →

139. Discharge of surety by creditor’s act or omission impairing surety’s eventual remedy. If the creditor does any act which is inconsistent with the rightRead More →

140. Rights of surety on payment or performance. Where a guaranteed debt has become due, or default of the principal debtor to perform a guaranteedRead More →

141. Surety’s right to benefit of creditor’s securities. A surety is entitled to the benefit of every security which the creditor has against the principalRead More →

142. Guarantee obtained by misrepresentation, invalid. Any guarantee which has been obtained by means of misrepresentation made by the creditor, or with his knowledge andRead More →

143. Guarantee obtained by concealment, invalid. Any guarantee which the creditor has obtained by means of keeping silence as to material circumstances, is invalid. Illustrations-Read More →

144. Guarantee on contract that creditor shall not act on it until co-surety joins. Where a person gives a guarantee upon a contract that theRead More →

145. Implied promise to indemnify surety. In every contract of guarantee there is an implied promise by the principal debtor to indemnify the surety, andRead More →

146. Co-sureties liable to contribute equally. Where two or more persons are co-sureties for the same debt or duty, either jointly or severally, and whetherRead More →

147. Liability of co-sureties bound in different sums. Co-sureties who are bound in different sums are liable to pay equally as far as the limitsRead More →

148. “Bailment”, “bailor” and “bailee” defined. A “bailment” is the delivery of goods by one person to another for some purpose, upon a contract thatRead More →

149. Delivery to bailee how made. The delivery to be bailee may be made by doing anything which has the effect of putting the goodsRead More →

150. Bailor’s duty to disclose faults in goods bailed. The bailor is bound to disclose to the bailee faults in the goods bailed, of whichRead More →

151. Care to be taken by bailee. In all cases of bailment the bailee is bound to take as much care of the goods bailedRead More →

152. Bailee when not liable for loss, etc, of thing bailed. The bailee, in the absence of any special contract, is not responsible for theRead More →

153. Termination of bailment by bailee’s act inconsistent with conditions. A contract of bailment is voidable at the option of the bailor, if the baileeRead More →