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Judgment Search Results Home > Cases Phrase: indian contract act 1872 section 134 discharge of surety by release or discharge of principal debtor Page 1 of about 127 results (0.175 seconds)

Jan 26 1926 (PC)

Bhagvandas Rangildas Vani Vs. the Secretary of State for India

Court : Mumbai

Reported in : (1926)28BOMLR662

..... remained un-paid, should not be recovered from the licensee, framji; that the legal consequence of it was the discharge of the principal debtor; and that, therefore, the plaintiff was discharged from his suretyship. reliance is placed on section 63 and 134 of the indian contract act, the difficulty in the way of accepting this contention is that the plaintiff has failed to place before the court the ..... my opinion, therefore, government has not done, or omitted to do, any act, the legal consequence of which would be to discharge the principal debtor. the creditor having done nothing by his own act or omission to destroy the debt or to impiir the surety's eventual remedy, the liability of the surety still subsists20. these being the only questions raised and discussed before us, i ..... opinion, therefore, the government has not done, or omitted to do, any act, the legal consequence of which would be to discharge the principal debtor. the creditor having done nothing by his own act or omission to destroy the debt, or to impair the surety's eventual remedy, the liability of the surety still subsists.3. the appeal will be dismissed with costs.coyajee, j. ..... 1924, dismissing the plaintiff's suit with costs. the main relief claimed by the plaintiff was a declaration that he was not liable, as a surety, to pay the amount which was due by the principal debtor, framji kawasji, to the defendant.2. the facts of the case are these. in the year 1918, the collector of khandesh granted to framji kawasji .....

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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

..... sections 126, 128, 134, 139 and 140 of the indian contract act 1872 observed at paras 9, 11, 15 and 16 as hereunder:a perusal of the above provisions clearly shows that the person, who gives guarantee to discharge the liability of a third person in case of his default, is called 'surety' and the person in respect of whose default the guarantee is given is called the 'principal debtor ..... principal debtor has gone into liquidation also would not have any effect on the liability of the 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 is released ..... or by any act or omission of the creditor, the legal consequence of which is the discharge of the principal debtor, but a discharge which the principal debtor .....

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Mar 03 2006 (HC)

Rani Constructions Pvt. Ltd. Vs. Pati-bel J.V. and anr.

Court : Delhi

Reported in : III(2006)BC554; 2006(1)CTLJ448(Del); 129(2006)DLT38; 2006(88)DRJ291; (2006)144PLR24

..... these provisions, it would be seen that when a principal-debtor is discharged or released of its liability, then, the surety is also so discharged....10. section 134 of the indian contract act, 1872 provides for the discharge of the surety by release or discharge of the principle debtor. it provides that 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. a bank guarantee is contract of .....

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Mar 15 2018 (HC)

Doshion Private Limited vs.iic Ltd., & Ors.

Court : Delhi

..... . section 134 of the indian contract act, 1872 provides for the discharge of the surety by release or discharge of the principle debtor. it provides that 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. a bank guarantee is contract of a guarantee where the bank acts as the surety and the surety is ..... normally discharged ..... undertaken the liabilities not merely as a surety but also as a primary obligator . in other words, it has undertaken this liability unconditionally and without recourse or reference to the underlying contract between the defendant no.1 and the plaintiff, i.e., between the creditor and the principal debtor even to the limited extent permissible under section 134 of the indian contract act, 1872. another important circumstance is that the .....

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Mar 15 2018 (HC)

Doshion Veolia Water Solutions Pvt. Ltd. Vs.indianbulls Infrastructur ...

Court : Delhi

..... . section 134 of the indian contract act, 1872 provides for the discharge of the surety by release or discharge of the principle debtor. it provides that 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. a bank guarantee is contract of a guarantee where the bank acts as the surety and the surety is ..... normally discharged ..... undertaken the liabilities not merely as a surety but also as a primary obligator . in other words, it has undertaken this liability unconditionally and without recourse or reference to the underlying contract between the defendant no.1 and the plaintiff, i.e., between the creditor and the principal debtor even to the limited extent permissible under section 134 of the indian contract act, 1872. another important circumstance is that the .....

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Mar 15 2018 (HC)

Doshion Veolia Water Solutions Pvt. Ltd. Vs.elena Power and Infrastru ...

Court : Delhi

..... . section 134 of the indian contract act, 1872 provides for the discharge of the surety by release or discharge of the principle debtor. it provides that 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. a bank guarantee is contract of a guarantee where the bank acts as the surety and the surety is ..... normally discharged ..... undertaken the liabilities not merely as a surety but also as a primary obligator . in other words, it has undertaken this liability unconditionally and without recourse or reference to the underlying contract between the defendant no.1 and the plaintiff, i.e., between the creditor and the principal debtor even to the limited extent permissible under section 134 of the indian contract act, 1872. another important circumstance is that the .....

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Mar 15 2018 (HC)

Doshion Veolia Water Solutions Pvt. Ltd. Vs.rattanindia Nasik Power L ...

Court : Delhi

..... . section 134 of the indian contract act, 1872 provides for the discharge of the surety by release or discharge of the principle debtor. it provides that 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. a bank guarantee is contract of a guarantee where the bank acts as the surety and the surety is ..... normally discharged ..... undertaken the liabilities not merely as a surety but also as a primary obligator . in other words, it has undertaken this liability unconditionally and without recourse or reference to the underlying contract between the defendant no.1 and the plaintiff, i.e., between the creditor and the principal debtor even to the limited extent permissible under section 134 of the indian contract act, 1872. another important circumstance is that the .....

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Dec 18 1995 (HC)

In Re: U.P. Roofing Co. Ltd. (In Liquidation)

Court : Allahabad

Reported in : [1998]91CompCas831(All)

..... :'under section 128 of the indian contract act, 1872, the liability of the surety is coextensive with that of the principal debtor, unless it is otherwise provided by the contract. a surety is no doubt discharged under section 134 of that act of any contract between the creditor and principal debtor by which the principal debtor is released or by any act or omission of the creditor, the legal consequences of which is the discharge of the principal debtor. but a discharge which the principal debtor may ..... against the principal debtor was allowed to be dismissed whether section 134 of the contract act came into play because the plaintiff had discharged the principal debtor and the guarantors, therefore, released of their liability. it was held that section 134 of the contract act had no application to the facts of the said case and where the principal debtor stood dissolved by operation of law, the discharge of a principal debtor does not operate as discharge of sureties. the plaintiff ..... secure by operation of law in bankruptcy or in liquidation proceedings in the case of a company does not absolve the surety .....

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Feb 09 2011 (HC)

State Bank of Patiala Vs. S.K. Mathur

Court : Delhi

..... . against defendant no. 2 as well. 4 section 134 of the indian contract act, 1872 (hereinafter referred to as the said act) reads as follows:- "134. discharge of surety by release or discharge of principal debtor.- 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." 4 trial judge had relied upon the aforenoted ..... abated qua him on 08.02.2007. since the suit proceedings had abated against the principal debtor, the question of continuance of the suit against the guarantor would not arise. claim against the guarantor was not divisible; it was not an independent claim. section 134 of the indian contract act was applicable; surety stood discharged. 9 in air 1996 sc 1427 sri chand v. m/s jagdish pershad kishan ..... statutory provision to draw a conclusion that the suit stands abated as a whole.5 this finding was endorsed in appeal.6 learned counsel for the appellant has urged that under section .....

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Nov 06 1992 (HC)

Corporation Bank Vs. Mohandas Baliga

Court : Karnataka

Reported in : ILR1993KAR201; 1993(1)KarLJ308

..... :'9. chapter viii of the indian contract act, 1872, (hereinafter referred to as the 'act') deals with indemnity and guarantee. section 124 defines the expression 'contract of indemnity'; section 125 defines 'right of indemnity holder when sued'; section 126 defines the expressions 'contract of guarantee','principal debtor' and 'debtor'; section 127 provides regarding the consideration for guarantee; section 128 deals with 'surety's liability'; section 129 states to as the 'continuing guarantee'; sections 130 and 131 deal with ..... revocation of continuing guarantee by surety's death respectively; sections 132, 133, 134, 135 and 136 deal with liability of the sureties and discharge of their liabilities; section 137 provides that the ..... creditor's forbearance to sue the principal debtor or to enforce any other remedy against him does not, in the absence of any provision in the guarantee to the contrary discharge the surety; section 138 provides that where there are co-sureties, a release by .....

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