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

    Question

    How can a continuing guarantee be revoked by the surety?

    A By notifying the debtor Correct Answer Incorrect Answer
    B By notice to the creditor, as to future transactions Correct Answer Incorrect Answer
    C By paying off the entire debt Correct Answer Incorrect Answer
    D By requesting the court to revoke it Correct Answer Incorrect Answer
    E By the creditor's consent Correct Answer Incorrect Answer

    Solution

    Section 130.Revocation of continuing guarantee.—A continuing guarantee may at any time be revoked by the surety, as to future transactions, by notice to the creditor.

    Practice Next