Скачать или смотреть Is Loan Guarantor liable to repay loan in case of Default : Liability of the Surety or Guarantor

As per Law, If the borrower defaults on their loan, then the guarantor is liable for the outstanding obligation

Contract of Guarantee Section 126 of Indian Contract Act : A contract of Guarantee is a contract to perform the promise, or discharge the liability of a third person in case of his default.
What is the Liability of the #Guarantor in a Bank #Loan in case of Default ?
Section 128 of the Indian Contract Act : The Liability of the Surety is coextensive with that of the principal debtor unless it is otherwise provided by the Contract.
Guarantors liable to pay if debtors default: Apex Court
Case Study - 1- Ram Kishun Vs State Of Uttar Pradesh AIR 2012 SC SC 2288
Case Study -2 - State Bank of Patiala Vs Kusum Kalra 2012 : NCDRC


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