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

    Question

    In every contract of guarantee there is ___________ by

    the principal debtor to indemnify the surety, and the surety is entitled to recover from the principal debtor whatever sum he has rightfully paid under the guarantee, but no sums which he has paid wrongfully, as per the provisions of the Contract Act
    A An implied promise Correct Answer Incorrect Answer
    B An expressed promise Correct Answer Incorrect Answer
    C Conditional promise Correct Answer Incorrect Answer
    D Contingent promise Correct Answer Incorrect Answer
    E Neither implied nor expressed promise Correct Answer Incorrect Answer

    Solution

    Section 145. Implied promise to indemnify surety: In every contract of guarantee there is an implied promise by the principal debtor to indemnify the surety, and the surety is entitled to recover from the principal debtor whatever sum he has rightfully paid under the guarantee, but no sums which he has paid wrongfully.

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