Question

Question 31:- A contract to perform the promise or
discharge the liability of a third person in case of his
default is called:
a) a contract of insurance
b) a contract of guarantee
c) a contact of bailment
d)
none of the given options is correct

Answer 1

NANBA..

B) A CONTRACT OF GUARANTEE..

.

Is the correct answer hope usefull..

Answer 2

Answer:

The correct answer of this question is a contract of guarantee .

Explanation:

Given - A contract to perform the promise and discharge the liability of a third person in case of his default.

To Find - Write about a  contract to perform the promise and discharge the liability of a third person in case of his default.

A contract to perform the promise or discharge the liability of a third person in case of his default is called a contract of guarantee.

A "contract of guarantee" is an agreement to fulfil a third party's promise or relieve his liability if he fails to do so.

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