Question
What are the types of
Guarantees?Solution
There are two types of contract of guarantee i.e. Specific guarantee and continuing guarantee. When a guarantee is given only for single debt or transaction and is to come to an end when the guaranteed debt is paid or the promise is duly performed, it is called a specific or simple guarantee. A guarantee which extends to a series of transactions is called a continuing guarantee. In this case the surety’s liability would continue till all the transactions are completed or till the guarantor revokes the guarantee as to the future transactions.
Which atmospheric layer contains the maximum concentration of ozone and is critical for absorbing harmful UV radiation?
Which form of heat transfer involves the actual movement of molecules in a medium?
Which scattering phenomenon is responsible for the primary cause of the blue color of the sky?
Which type of irrigation is most suitable for lands with irregular topography?
What is the precipitation type characterized by small pellets of transparent ice, typically 5 mm or less in diameter?
Which stage of sugarcane is sensitive to water requirement?
Which category of soil is highly permeable & excessively drained with low water holding capacity thus require more frequent irrigation for successful cr...
Which river's basin is associated with the Bhakra Nangal Project in India?
What term refers to the time between the first water supply to the land and the last watering before harvesting?
Which wind belt is characterized as an equatorial belt of calms and variable winds?
Relevant for Exams:
