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

    Question

    How can a contract of continuing guarantee be revoked by

    the surety?
    A Mutually by the parties Correct Answer Incorrect Answer
    B Death of surety Correct Answer Incorrect Answer
    C By giving notice Correct Answer Incorrect Answer
    D Either (b) or (c) Correct Answer Incorrect Answer

    Solution

    Section 130 - A continuing guarantee may at any time be revoked by the surety, as to future transactions, by notice to the creditor. Section 131 - The death of the surety operates, in the absence of any contract to the contrary, as a revocation of a continuing guarantee, so far as regards future transactions

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