Bare Act · Indian Contract Act, 1872 · Chapter VIII

Chapter VIII · Sections

124 · “Contract of indemnity” defined. 125 · Rights of indemnity-holder when... 126 · “Contract of guarantee”, “surety”,... 127 · Consideration for guarantee. 128 · Surety’s liability. 129 · “Continuing guarantee”. 130 · Revocation of continuing... 131 · Revocation of continuing guarantee... 132 · Liability of two persons,... 133 · Discharge of surety by variance in... 134 · Discharge of surety by release or... 135 · Discharge of surety when creditor... 136 · Surety not discharged when... 137 · Creditor’s forbearance to sue does... 138 · Release of one co-surety does not... 139 · Discharge of surety by creditor’s... 140 · Rights of surety on payment or... 141 · Surety’s right to benefit of... 142 · Guarantee obtained by... 143 · Guarantee obtained by concealment... 144 · Guarantee on contract that... 145 · Implied promise to indemnify... 146 · Co-sureties liable to contribute... 147 · Liability of co-sureties bound in...

136

Surety not discharged when agreement made with third person to give time to principal debtor.

Where a contract to give time to the principal debtor is made by the creditor with a third person, and not with the principal debtor, the surety is not discharged.

Illustration

C, the holder of an overdue bill of exchange drawn by A as surety for B, and accepted by B, contracts with M to give time to B. A is not discharged.

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