Question

In which circumstances does guarantee becomes illegal / invalid?

Answer 1

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A Contract of Guarantee invalid due to MISREPRESENTATION. Section 142 of the Indian Contract Act renders invalid any contract of guarantee that has been entered into “…by means of misrepresentation made by the creditor, or with his assent, concerning a material part of the transaction”1.

Answer 2

Answer:

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Explanation:

A Contract of Guarantee invalid due to MISREPRESENTATION. Section 142 of the Indian Contract Act renders invalid any contract of guarantee that has been entered into by means of misrepresentation made by the creditor, or with his assent, concerning a material part of the transaction”1.

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