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    Question

    Where a person gives a guarantee upon a contract that

    the creditor shall not act upon it until another person has joined in it as co-surety
    A The contract is void Correct Answer Incorrect Answer
    B the guarantee is not valid Correct Answer Incorrect Answer
    C the guarantee is not valid if that other person does not join Correct Answer Incorrect Answer
    D The guarantee is abolished Correct Answer Incorrect Answer
    E The surety is discharged Correct Answer Incorrect Answer

    Solution

    Transfer of Property Act Section 58. Mortgage , mortgagor , mortgagee , mortgage-money and mortgage- deed defined Section 144 of Indian Contract Act Guarantee on contract that creditor shall not act on it until co-surety joins.тАФWhere a person gives a guarantee upon a contract that the creditor shall not act upon it until another person has joined in it as co-surety, the guarantee is not valid if that other person does not join.

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