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of <h1>Understanding Continuing Guarantees: Section 129 of Indian Contract Act Covers Series of Transactions, Not Just One.</h1> A continuing guarantee under Section 129 of the Indian Contract Act, 1872, refers to a guarantee that applies to a series of transactions. This type of guarantee holds the guarantor liable for obligations arising from multiple transactions over time. For example, if a guarantor promises to cover a specified amount for a series of transactions, they remain liable up to that amount for each transaction. However, if the guarantee is specific to a single transaction, it does not extend to subsequent transactions unless explicitly stated. Illustrations clarify the application of continuing versus non-continuing guarantees.
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