Question

What constitutes sufficient consideration for a

Q: Answer-What constitutes sufficient consideration for a guarantee?

ExplanationContract ActSection 127. Consideration for guarantee Anything done, or any promise made, for the benefit of the principal debtor, may be a sufficient consideration to the surety for giving the guarantee.

guarantee?

A A promise made for the benefit of the principal debtor

B A promise made for the benefit of the surety only

C Any promise or act performed for the benefit of the lender

D A promise made by the principal debtor to the creditor

E A promise made by the principal debtor to the surety

Practice Next

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What constitutes sufficient consideration for a

Solution