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Indeminity & Guarantee - Coggle Diagram
Indeminity &
Guarantee
S.126 contract of guarantee
S.127 consideration
S.128 liability of
surety
Exactly same
As p.debtor
p.debtor duty partly
Diminishes same for surety
Unenforceable
debt
Discharge of surety
Liability
s.130 revocation by
surety to continuing
guarantee
S.131 surety
death
S.133Variance in
terms
S.134 release of
P.debtor
S.135
Creditor compounds ,
Gives time to or agrees not sue
Not discharge
136 creditor
Contract with 3rd
Person for time
S.137
not taken action
S.138
Release of co sureties
Not discharge others
S.139.creditor act or omission
Discharges surety
Rights of surety
S.140
Right of subrogation
S.141
Right to securities
With the creditor
S.145 right of indemnity
Against the principal debtor
S.146 right of
CONTRIBUTION against
Co sureties
S.129 continuing
guarantee
S.124 contract of
indemnity
S.125 rights of
indemnity holder