Section 131
Revocation of continuing guarantee by surety‟s death
Chapter 9: Of indemnity and guarantee
The death of the surety operates, in the absence of any contract to the contrary, as a revocation of a continuing guarantee, so far as regards future transactions.
The Indian Contract Act, 1872 (Act No. 9 of 1872). From the updated text on India Code, with later amendments. Being checked against the official copy; amendment notes are not shown yet.
Related sections
- 128Surety‟s liability
- 129“Continuing guarantee”
- 130Revocation of continuing guarantee
- 132Liability of two persons, primarily liable, not affected by arrangement between them that one shall be surety on other‟s default
- 133Discharge of surety by variance in terms of contract
- 134Discharge of surety by release or discharge of principal debtor