New Enroll in RBI Grade B New Batch - Starts on May 21

    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.

    Practice Next