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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Guarantee Invalid Under Indian Contract Act Section 143 If Obtained by Concealing Material Facts; Ensures Transparency.</h1> Under Section 143 of the Indian Contract Act, 1872, a guarantee is deemed invalid if obtained by concealing material facts. If a creditor remains silent about crucial circumstances while obtaining a guarantee, it renders the guarantee unenforceable. For instance, if a creditor fails to disclose a clerk's past misconduct while securing a guarantee for the clerk's future conduct, the guarantee is invalid. Similarly, if an agreement involving a hidden financial arrangement is not disclosed to the guarantor, the guarantor is not liable. This provision ensures transparency and fairness in contractual guarantees.
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