Indian Contract Act, 1872, Section 139

Indian Contract Act, 1872—Section 139—Liability of the guarantor—Held, the liability of the guarantor is equal to and co-extensive with the borrower and it is highly doubtful that the guarantor can avoid his liability simply on the basis of the promissory note made out or an equitable mortgage created by the borrower in favour of the lender.  


File Name:- SC_JANUARY 2012_16