Any guarantee obtained by means of misrepresentation made by the creditor or with his knowledge and assent concerning a material part of the transaction is_________________?
Correct answer: A. Invalid
- A. Invalid
- B. Valid
- C. Both A and B
- D. None of above
Explanation
Section 143 of the Contract Act makes a guarantee invalid when the creditor's misrepresentation, or his knowledge and assent to it, concerns a material part of the transaction. The defect relates to the creditor's conduct in obtaining the surety's consent.
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About Civil Law
Civil law governs disputes involving private rights, including contracts, property, family relations, torts and compensation. The subject explains breach of duty, civil liability, damages, specific relief, injunctions and other remedies, while distinguishing private claims between individuals from criminal proceedings brought to punish offences against the state.
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More Civil Law questions
The contract of guarantee is a contract in which a person perform the promise or discharge the liability of__________________?
In contract of guarantee the person at whose place guarantee given is called __________________?
Section_________ to__________, at the Contract Act, deals with discharge of surety ?
A in consideration that B will employ C in collecting the rent of B's zamindari, promises B to be responsible, to the amount of 5000 rupees for the due collection and payment by C of those rents. This is a________________?
Section 124 to 147, of the Contract Act, deals with _________________?
A contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself or by the conduct of any other person is called______________?