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Judgment Search Results Home > Cases Phrase: discharge of surety contract Page 1 of about 28,550 results (0.068 seconds)

Mar 09 1920 (PC)

K.R. Chitguppi and Co. Vs. Vinayak Kashinath Khadilkar

Court : Mumbai

Reported in : AIR1921Bom164; (1920)22BOMLR659; 58Ind.Cas.184

..... not an insignificant variation by any means. as to whether this variation would he beneficial to the surety or not is a question with which we are not concerned. under section 138 of the indian contract act the variation involves the result that the surety is discharged as to transactions subsequent to the variation. i do not think that the general clause in the ..... the sub-agent was to receive commission at the rate of 22 per cent, inclusive of all office expenses.4. the question is whether the variation has the effect of discharging the surety from all subsequent liability. it depends upon the construction of the letter. it seems to me that there is no express provision in the letter that the ..... read an implying any consent to the variation within the meaning of section 133 or as entitling the plaintiffs to enforce the liability against the surety even though, according to law, he is discharged from such liability. the discharge from liability is an incident of the variation, and i do not see how any such general agreement could be interpreted as amounting to ..... do not consider how far modification is material, but leave it for the surety to judge the importance of any variation. if his consent is not obtained to such modification as this, which is obviously a variation, he is discharged from hit- suretyship by section 133 of the indian contract act. but it has been argued that there is a saving provision to .....

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Jan 22 1883 (PC)

Sankana Kalana Vs. Virupakshapa Ganeshapa and

Court : Mumbai

Reported in : (1883)ILR7Bom146

..... justified in going behind the decree obtained by sankana against ningana, it is clear that he was wrong in holding under section 134 of the contract act that sankana's omission to sue the principal mohidin discharged the surety ningana. section 134 is qualified, as held in hajarimal v. krishnaram i.l.r. 5 bom. 647 by section 137, which obviously governs the .....

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Aug 26 1955 (HC)

Aziz Ahmad Vs. Sher Ali and ors.

Court : Allahabad

Reported in : AIR1956All8

..... the creditor,the legal consequence of which is the discharge of| the principal debtor.' '137. 'creditor's forbearance to sue does not discharge surety' -- mere forbearance on the part ..... the debtor.' we think that this also is the law in india. 4. the imporant sections of the indian contract act are sections 134 and 137. they read as follows: '134. 'discharge of surety by release or discharge of principal debtor'. the surety is discharged by any contract between the creditor andthe principal debtor, by which the principal debtoris released, or by any aet or omission of ..... does not, in the absence of any provision in the guarantee to the contrary, discharge the surety.' 5. the leading case of this court is --'radha v. 'kinlock', 11 all 310 (h). in this case itwas held by edge, c. j., and tyrell, j., that undersection 134, contract act the omission by the creditorto sue the principal debtor within the period allowed by .....

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Mar 03 1939 (PC)

Mahant Singh Vs. U Ba Yi

Court : Mumbai

Reported in : (1939)41BOMLR742

..... reasons they have given, their lordships find nothing in the present case which impairs the respondent's remedy against the original trustees.22. under section 134 the surety is discharged if, and only if, a contract has been entered into by which the debtor is released, or if there has been any act or omission on the part of the creditor the legal ..... are as follows:2. (g) an agreement not enforceable by law is said to be void.2. (j) a contract which ceases to be enforceable by law becomes void when it ceases to be enforceable.134. the surety is discharged by any contract between the creditor and the principal debtor, by which the principal debtor is released, or by any act or omission of ..... the creditor, the legal consequence of which is the discharge of the principal debtor.139. if the creditor does any act which is ..... , with the result that in india and burma any contract in respect of which an action cannot be brought is void, and therefore, the plaintiff's right to recover the debt from the original trustees being unenforceable, is void. it follows, he argues, that, the principal debtors having been absolutely released, the surety is discharged.20. if the premises were accurate, the conclusion .....

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Sep 08 1885 (PC)

Krishto Kishori ChowdhraIn and anr. Vs. Radha Romun Munshi and anr.

Court : Kolkata

Reported in : (1885)ILR12Cal330

..... give not to sue principal time to, or not to sue, the principal debtor.debtor. discharges the surety, unless the surety assents to such contract.surety not discharged section 136: where a contract to give time to when agreement made with the principal debtor is made by the creditor with a third person to give a third person ..... consent,in the terms of the conteract variance in terms of between the principal and the creditor,contract. discharge of surety as to transactions subsequent to the variance. section 134: the surety is discharged by any discharge of surety by contract between the creditor, and the principalrelease or discharge of debtor by which the principal debtor is released,principal debtor. or by any act or omission of the creditor ..... , the legal consequence of which is the discharge of the principal debtor.discharge of surety when section 135: a contract between the creditor creditor compounds with, and the principal debtor, by which the creditorgives time to, or agrees makes a composition with, or promises to .....

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Aug 29 2008 (HC)

Bandi Venkateshwara Rao S/O Venkata Narayana, Vs. Sriram Chits Ltd. Re ...

Court : Andhra Pradesh

Reported in : 2009(1)ALT320

..... the rest of the parties - the revision petitioners and the 5th respondent. section 126 of the indian contract act, 1872 dealing with 'contract of guarantee', 'surety', 'principal debtor' and 'creditor' reads as hereunder:a 'contract of guarantee' is a contract to perform the promise or discharge the liability, of a third person in case of his default, the person who gives the guarantee is ..... co-extensive with that of the principal debtor, unless it is otherwise provided by the contract.section 134 of the said act dealing with discharge of surety by release or discharge of principal debtor reads as hereunder:the surety is discharged by any contract between the creditor and the principal debtor, by which the principal debtor is released or by any act or omission ..... person in respect of whose default the guarantee is given is called the 'principal debtor'. the liability of the surety is co-extensive with that of the principal debtor. section 134 shows that the surety's liability stands discharged by any contract between the creditor and the principal debtor by which the principal debtor is released or by any act or omission ..... bank i.e. the guarantor. under section 128 of the indian contract act, the liability of the surety is co-extensive with that of the principal debtor unless it is otherwise provided by the contract. a surety is no doubt discharged under section 134 of the indian contract act by any contract between the creditor and the principal debtor by which the principal debtor .....

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Dec 09 1988 (HC)

Canara Bank Vs. Gokuldas Shenoy and anr.

Court : Kerala

Reported in : [1991]72CompCas298(Ker)

..... now deal with the contentions raised by learned counsel for the second defendant on the basis of sections 134, 135, 139 and 141 of the contract act. section 134 says that the surety is discharged by any contract between the creditor and the principal debtor by which the principal debtoris released, or by any act or omission of the creditor, the legal consequence ..... 1964 sc 1425.11. counsel for the second defendant submitted that the suit was barred by limitation, that his liability as surety was discharged in view of the provisions contained in sections 135, 136, 139 and 141 of the indian contract act and that the finding of the lower court to the contrary is unsustainable.12. dealing with the question of limitation, ..... to remain liable, even after the discharge of the principal debtor': de colyar's law ..... (at page 66) :'the liability of the surety is co-extensive with that of the principal debtor, unless it is otherwise provided by the contract (section 128 of the contract act). where there is no principal, there can be no surety. 'as a general rule, a voluntary discharge of the principal discharges the surety also, yet the surety may, by express stipulation in the guarantee, agree .....

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Aug 20 1970 (HC)

B. Shambumal Gangaram and anr. Vs. the State Bank of Mysore

Court : Karnataka

Reported in : AIR1971Kant156; AIR1971Mys156; (1970)2MysLJ577

..... compounds or promises to give time to, or not to sue the principal debtor, the surety will be discharged unless the surety assents to such contract. section 139 deals with the subject of discharge of surety by the creditor impairing the surety's remedy against the principal debtor. that section provides for two cases, that of an act ..... remedy against him does not, in the absence of any provision in the guarantee to the contrary, discharge the surety.'while section 135 deals with a case of discharge of a surety as a result of a contract between the creditor and the principal debtor to give time to or not to sue the debtor, ..... deprives himself of the right which he has stipulated to acquire, or does anything to release any right which he has, that discharges the surety; but where there is no such contract, and he only has a right against the debtor in the position of the defendants in this case without reference to the ..... that failure to sue the principal debtor until recovery is barred by the statutes of limitation does not operate as discharge of surety.26. reference may be made to section 137 of the contract act, which provides that--'mere forbearance on the part of the creditor to sue the principal debtor or to ..... deprives himself of the right which he has stipulated to acquire, or does anything to release any right which he has, that discharges the surety; but if there is no such contract, and he only has a right to perfect what he has in his hand, which he does not do, that does not .....

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Oct 31 1966 (HC)

Princess Ushadevi Malhotra and ors. Vs. Bhagwandas Tiwari and anr.

Court : Madhya Pradesh

Reported in : AIR1967MP250

..... the latter paid up and sued him.21. thus the two features on account of which the trial court has discharged the surety do not attract either section 135 or 139 of the contract act accordingly they do not have the effect of discharging the surety. the result is that the appeal is allowed and the decree made by the trial court is modified by ..... debt, it is only an act of forbearance within the meaning of section 137 and not an instance of giving lime under a contract within the meaning of section 135 and does not discharge the surety' (underlining (here in ' ') mine).14. thus tbe mere fact thai time has been granted or that additional security has been accepted does not decide the question of ..... facts of fee instant case in fee light of reported case law.we have section 135 of the contract act setting out the circumstances in which a contract between fee creditor and fee principal debtor discharges the surety unless the last is privy to that contract. such a contract might provide for one of three things, namely, a composition with the principal debtor or a promise ..... then enforcing the creditor's original rights against the principal debtors.'but immediately before this sentence the judgment finds:--'the effect of material alteration in the contract between the creditor and the principal debtor without reference to the surety is to discharge the surety.'in that particular case it was found on the facts that the granting of time was part of a new .....

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Nov 25 2005 (HC)

Lalbhai Trading Company Through B.K. Bhatt and 3 ors. Vs. Union of Ind ...

Court : Gujarat

Reported in : (2006)1GLR497

..... principal debtor and the creditor, and the variance is made without the consent of the surety, the surety is discharged qua the transactions subsequent to variance. iv. section 134 provides for discharge of surety by release or discharge of principal debtor. similarly section 135 of the contract act discharges a surety when creditor compounds with, gives time or agrees not to sue, the principal debtor. ..... . where the circumstances of default are such as to excuse the principal debtor from liability, the surety is also discharged from his liability. on the same principle, the surety is discharged when the contract by principal debtor is illegal or void. the surety's liability must be specifically proved against him and award or judgment against the debtor is no ..... v. however, the requirement of tri-partite contract of guarantee is not satisfied in the case of surety bond executed in favour of the ..... the principal debtor. the definition under section 126 of the contract act provides that a contract of guarantee is a contract to perform the promise, or discharge the liability of a third person in case of default by the third person; it is in essence a contract whereby the guarantor/surety agrees to be answerable for some liability of the principal .....

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