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Indian Laws

Home Acts & Rules Indian Laws Indian Laws - Acts Indian Contract Act, 1872 Chapter VIII = OF INDEMNITY AND GUARANTEE Chapters List This

OF INDEMNITY AND GUARANTEE - Indian Contract Act, 1872

Chapter: VIII
OF INDEMNITY AND GUARANTEE
Section 124	:	"Contract of indemnity" defined
Section 125	:	Rights of indemnity-holder when sued
Section 126	:	"Contract of guarantee", "surety", "principal debtor" and "creditor"
Section 127	:	Consideration for guarantee
Section 128	:	Surety's liability
Section 129	:	Continuing guarantee
Section 130	:	Revocation of continuing guarantee
Section 131	:	Revocation of continuing guarantee by surety's death
Section 132	:	Liability of two persons, primarily liable, not affected by arrangement between them that one shall be surety on other's default
Section 133	:	Discharge of surety by variance in terms of contract
Section 134	:	Discharge of surety by release or discharge of principal debtor
Section 135	:	Discharge of surety when creditor compounds with, gives time to, or agrees not to sue, principal debtor
Section 136	:	Surety not discharged when agreement made with third person to give time to principal debtor
Section 137	:	Creditor's forbearance to sue does not discharge surety
Section 138	:	Release of one co-surety does not discharge others
Section 139	:	Discharge of surety by creditor's act or omission impairing surety's eventual remedy
Section 140	:	Rights of surety on payment or performance
Section 141	:	Surety's right to benefit of creditor's securities
Section 142	:	Guarantee obtained by misrepresentation invalid
Section 143	:	Guarantee obtained by concealment invalid
Section 144	:	Guarantee on contract that creditor shall not act on it until co-surety joins
Section 145	:	Implied promise to indemnify surety
Section 146	:	Co-sureties liable to contribute equally
Section 147	:	Liability of co-sureties bound in different sums

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