Supreme Court · 2012 INSC 247 · Decided 24 May 2012
Ram Kishun and ORS. v. State of U.P. and ORS.
- Court
- Supreme Court of India
- Citation
- 2012 INSC 247 · [2012] 6 S.C.R. 105
- Case number
- CIVIL APPEAL No. 6204/2009
- Decided
- 24 May 2012
- Bench
- B.S. CHAUHAN, DIPAK MISRA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Contract Act Section 128, 146
Headnote
Contract Act, 1872 - s. 128 - Guarantor - Liability of - Held: A B Liability of the guarantor/surety is co-extensive with that of the debtor - The surety has no right to restrain execution of the C decree against him until the creditor has exhausted his remedy against the principal debtor. of - Held: Co-sureties are liable to contribute equally - In case there are D more than one surety/guarantor, they have to share the liability equally unless the agreement of contract provides otherwise. Financial institutions - Recovery of loans - Held: Financial institutions cannot be
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