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Chapter 8 of The Indian Contract Act, 1872 (Act No. 09)
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Of Indemnity And Guarantee
8 (VIII)
Act Details
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The Indian Contract Act, 1872
09
25-04-1872
The Indian Contract Act, 1872
To define and amend certain parts of the law relating to contracts.
Ministry of Law and Justice
Legislative Department
Sections from Chapter 8 of The Indian Contract Act, 1872 (Act No. 09)
124 - "Contract of indemnity" defined
125 - Rights of indemnity-holder when sued.
126 - "Contract of guarantee", "surety", "principal debtor" and "creditor".
127 - Consideration for guarantee.
128 - Surety's liability.
129 - "Continuing guarantee".
130 - Revocation of continuing guarantee.
131 - Revocation of continuing guarantee by surety's death.
132 - Liability of two persons, primarily liable, not affected by arrangement between them that one shall be surety on others default.
133 - Discharge of surety by variance in terms of contract.
134 - Discharge of surety by release or discharge of principal debtor.
135 - Discharge of surety when creditor compounds with, gives time to, or agrees not to sue, principal debtor.
136 - Surety not discharged when agreement made with third person to give time to principal debtor.
137 - Creditor's forbearance to sue does not discharge surety.
138 - Release of one co-surety does not discharge others.
139 - Discharge of surety of creditor's act or omission impairing surety's eventual remedy.
140 - Rights of surety on payment or performance.
141 - Surety's right to benefit of creditor's securities.
142 - Guarantee obtained by misrepresentation invalid.
143 - Guarantee obtained by concealment invalid.
144 - Guarantee on contract that creditor shall not act on it until co-surety joins.
145 - Implied promise to indemnify surety.
146 - Co-sureties liable to contribute equally.
147 - Liability of co-sureties bound in different sums.
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