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      Question

      What is the consideration in a contract of

      guarantee?
      A Anything done, or any promise made, for the benefit of the surety Correct Answer Incorrect Answer
      B Anything done, or any promise made, for the benefit of the creditor Correct Answer Incorrect Answer
      C Anything done, or any promise made, for the benefit of the principal debtor Correct Answer Incorrect Answer
      D Either a or b or c Correct Answer Incorrect Answer
      E All a b & c Correct Answer Incorrect Answer

      Solution

      Contract Act  Section 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.

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