TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Surety's Rights Under Section 141: Discharge of Liability If Creditor Loses or Disposes of Security Without Consent.</h1> Under Section 141 of the Indian Contract Act, 1872, a surety is entitled to benefit from any security the creditor holds against the principal debtor at the time of the suretyship contract, regardless of the surety's awareness of such security. If the creditor loses or disposes of the security without the surety's consent, the surety is discharged to the value of the lost security. Illustrations clarify that if a creditor cancels or withdraws security without the surety's knowledge, the surety's liability is reduced by the security's value, except when the surety is not discharged due to subsequent security arrangements.
TaxTMI 
TaxTMI 
