https://www.taxtmi.com/caselaws?id=464205 Guarantee-based claims may fall within territorial jurisdiction where the guarantee is delivered and performed, even if a promissory note forms part of the transaction. Non-presentment of a promissory note does not bar recovery where the claim is enforced under the guarantee and presentment could not be made at the specified place. A negative lien or covenant to keep assets unencumbered does not, without clear recourse rights over property, create a charge, hypothecation, or floating charge capable of discharging a surety. The surety's liability remains coextensive with the principal debtor's contractual liability, so liquidation-related cessation of interest against the debtor does not itself end interest liability under the guarantee. en-us Mon, 05 Jul 1954 00:00:00 +0530 Mon, 07 Sep 2026 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464205 Guarantee-based claims may fall within territorial jurisdiction where the guarantee is delivered and performed, even if a promissory note forms part of the transaction. Non-presentment of a promissory note does not bar recovery where the claim is enforced under the guarantee and presentment could not be made at the specified place. A negative lien or covenant to keep assets unencumbered does not, without clear recourse rights over property, create a charge, hypothecation, or floating charge capable of discharging a surety. The surety's liability remains coextensive with the principal debtor's contractual liability, so liquidation-related cessation of interest against the debtor does not itself end interest liability under the guarantee. Case-Laws Indian Laws Mon, 05 Jul 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464205