Bare Act · Indian Contract Act, 1872
Chapters
Preliminary
Chapter I · 3–9
Chapter II · 10–30
Chapter III · 31–36
Chapter IV · 37–67
Chapter V · 68–72
Chapter VI · 73–75
Chapter VII · 76–123
Chapter VIII · 124–147
Chapter IX · 148–181
Chapter X · 182–238
Chapter XI · 239–266
Chapter VIII — Of Indemnity and Guarantee
Indian Contract Act, 1872 · Sections 124–147
- 124“Contract of indemnity” defined.
- 125Rights of indemnity-holder when sued.
- 126“Contract of guarantee”, “surety”, “principal debtor” and “creditor”.
- 127Consideration for guarantee.
- 128Surety’s liability.
- 129“Continuing guarantee”.
- 130Revocation of continuing guarantee.
- 131Revocation of continuing guarantee by surety’s death.
- 132Liability of two persons, primarily liable, not affected by arrangement between them that one shall be surety on other’s default.
- 133Discharge of surety by variance in terms of contract.
- 134Discharge of surety by release or discharge of principal debtor.
- 135Discharge of surety when creditor compounds with, gives time to, or agrees not to sue, principal debtor.
- 136Surety not discharged when agreement made with third person to give time to principal debtor.
- 137Creditor’s forbearance to sue does not discharge surety.
- 138Release of one co-surety does not discharge others.
- 139Discharge of surety by creditor’s act or omission impairing surety’s eventual remedy.
- 140Rights of surety on payment or performance.
- 141Surety’s right to benefit of creditor’s securities.
- 142Guarantee obtained by misrepresentation invalid.
- 143Guarantee obtained by concealment invalid.
- 144Guarantee on contract that creditor shall not act on it until co-surety joins.
- 145Implied promise to indemnify surety.
- 146Co-sureties liable to contribute equally.
- 147Liability of co-sureties bound in different sums.
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