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Question

According to the Indian Contract Act, when co-sureties are bound in different sums, how is their liability to pay determined?

A They are all equally liable regardless of the sums they are bound for Correct Answer Incorrect Answer
B Each co-surety is liable to pay the entire amount Correct Answer Incorrect Answer
C Liability is determined based on the time of signing the contract Correct Answer Incorrect Answer
D Liability is determined based on the individual financial status of each co-surety. Correct Answer Incorrect Answer
E They are liable to pay equally as far as the limits of their respective obligations permit Correct Answer Incorrect Answer

Solution

Section 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 limits of their respective obligations permit.

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