two example of contract of gaurantee
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Surety. A person who gives a guarantee in a contract is called surety according to Section 126 of the Indian Contract Act, 1872. The surety is the person who is responsible to pay when the person. Example: “A” takes a loan from “B”, and “C” promises to pay back the amount if “A” fails to pay it on time.
Answered by
5
Answer:
Surety. A person who gives a guarantee in a contract is called surety according to Section 126 of the Indian Contract Act, 1872. The surety is the person who is responsible to pay when the person. Example: “A” takes a loan from “B”, and “C” promises to pay back the amount if “A” fails to pay it on time.
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