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of <h1>Surety Gains Creditor's Rights After Settling Debtor's Default as per Section 140 of the Indian Contract Act.</h1> When a guaranteed debt becomes due or the principal debtor defaults on a guaranteed duty, the surety, upon fulfilling their obligation through payment or performance, acquires all the rights the creditor held against the principal debtor. This provision is outlined in Section 140 of the Indian Contract Act, 1872, under the laws governing indemnity and guarantee.
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