Under The Indian Contract Act, 1872, a Contract to perform the promise or discharge the liability of a third person in case of his default,:-
Section 126 defines Contract of Guarantee “Contract of guarantee”, “surety”, “principal debtor” and “creditor”—A “contract of guarantee” is a contract to perform the promise, or discharge the liability, of a third person in case of his default. The person who gives the guarantee is called the “surety”; the person in respect of whose default the guarantee is given is called the “principal debtor”, and the person to whom the guarantee is given is called the “creditor”. A guarantee may be either oral or written Contract of Indemnity is defined under Section 124 a contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other person, is called a “contract of indemnity”
Consider the following statements regarding ‘Palk Strait’:
1. The Palk Strait is a strait between Tamil Nadu and Sri Lanka.
2. In the ...
________ has entered into a strategic partnership with Zoho to accelerate the digital transformation of firms across the technology ecosystem.
When do we observe the Rheumatoid Awareness(RA) Day?
How much is the total potential investment secured by the Maharashtra state government through MoUs signed at the World Economic Forum Annual Meeting?
Which product, grown in the Kishtwar area of Jammu and Kashmir, has recently received the Geographical Indication (GI) tag from the Geographical Indicat...
In which year was the "Padhe Bharat, Badhe Bharat" program launched as part of the Sarva Shiksha Abhiyan framework?
What is the name of the unique e-cash card launched by the Indian Navy and the State Bank of India on October 4, 2023?
Defence Research and Development Organisation (DRDO) celebrated its ______ foundation day on 1 January, 2022.
The first liquid mirror telescope in the country and the largest in Asia has recently been commissioned in which state/UT?
Who is the first transgender councilor of New Delhi MCD?