Bare Act Search Results
Home Bare Acts Phrase: continuing guaranteeIndian Contract Act, 1872 Section 129
Title: Continuing Guarantee
State: Central
Year: 1872
A guarantee which extends to a series of transactions is called a 'continuing guarantee'. Illustrations (a) 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 5,000 rupees, for the due collection and payment by C of those rents. This is a continuing guarantee. (b) A guarantees payment to B, a tea- dealer, to the amount of 100, for any tea he may from time to time supply to C. B supplies C with tea to above the value of 100, and C pays B for it. Afterwards B supplies C with tea to the value of 200. C fails to pay. The guarantee given by A was a continuing guarantee, and he is accordingly liable to B to the extent of 100. (c) A guarantees payment to B of the price of five sacks of flour to be delivered by B to C and to be paid for in a month. B delivers five sacks to C. C pays for them. Afterwards B delivers four sacks to C, which C does not pay for. The guarantee given by A was not a continuing guarantee, and accordingly he is not liable for the price of the four sacks.
View Complete Act List Judgments citing this sectionIndian Contract Act, 1872 Section 130
Title: Revocation of Continuing Guarantee
State: Central
Year: 1872
A continuing guarantee may at any time be revoked by the surety, as to future transactions, by notice to the creditor. Illustrations (a) A, in consideration of B's discounting, at A's request, bills of exchange for C, guarantees to B, for twelve months, the due payment of all such bills to the extent of 5,000 rupees. B discounts bills for C to the extent of 2,000 rupees. Afterwards, at the end of three months, A revokes the guarantee. This revocation discharges A from all liability to B for any subsequent discount. But A is liable to B for the 2,000 rupees, on default of C. (b) A guarantees to B, to the extent of 10,000 rupees, that C shall pay all the bills that B shall draw upon him. B draws upon C. C accepts the bill. A gives notice of revocation. C dishonours the bill at maturity. A is liable upon his guarantee.
View Complete Act List Judgments citing this sectionIndian Partnership Act, 1932 Section 38
Title: Revocation of Continuing Guarantee by Change in Firm
State: Central
Year: 1932
A continuing guarantee given to a firm, or to a third party in respect of the transactions of a firm, is, in the absence of agreement to the contrary, revoked as to future transactions from the date of any change in the constitution of the firm.
View Complete Act List Judgments citing this sectionIndian Contract Act, 1872 Section 131
Title: Revocation of Continuing Guarantee by Suretys Death
State: Central
Year: 1872
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.
View Complete Act List Judgments citing this sectionIndian Contract Act, 1872 Chapter 8
Title: Of Indemnity and Guarantee
State: Central
Year: 1872
.....such third person may have been aware of its existence. Illustration A and B make a joint and several promissory note to C. A makes it, in fact, as surety for B, and C knows this at the time when the note is made. The fact that A, to the knowledge of C, made the note as surety for B, is no answer to a suit by C against A upon the note. Section 133 - Discharge of surety by variance in terms of contract Any variance, made without the surety's consent, in the terms of the contract between the principal 1[debtor] and the creditor, discharges the surety as to transactions subsequent to the variance. Illustrations (a) A becomes surety to C for B's conduct as a manager in C's bank. Afterwards B and C contract, without A's consent, that B's salary shall be raised, and that he shall become liable for one- fourth of the losses on overdrafts. B allows a customer to over-draw, and the bank loses a sum of money. A is discharged from his suretyship by the variance made without his consent, and is not liable to make good this loss. (b) A guarantees C against the misconduct of B in an office to which B is appointed by C, and of which the duties are defined by an Act of.....
View Complete Act List Judgments citing this sectionNational Rural Employment Guarantee Act, 2005 Chapter III
Title: Employment Guarantee Schemes and Unemployment Allowance
State: Central
Year: 2005
.....the date on which it became due for payment. (6) The State Government may prescribe the procedure for payment of unemployment allowance under this Act. Section 8 - Non-disbursement of unemployment allowance in certain circumstances (1) If the Programme Officer is not in a position to disburse the unemployment allowance in time or at all for any reason beyond his control, he shall report the matter to the District Programme Coordinator and announce such reasons in a notice to be displayed on his notice board and the notice board of the Gram Panchayat and such other conspicuous places as he may deem necessary. (2) Every case of non-payment or delayed payment of unemployment allowance shall be reported in the annual report submitted by the District Programme Coordinator to the State Government along with the reasons for such non-payment or delayed payment. (3) The State Government shall take all measures to make the payment of unemployment allowance reported under sub-section (1) to the concerned household as expeditiously as possible. Section 9 - Disentitlement to receive unemployment allowance in certain circumstances An applicant who-- (a) does not accept the.....
View Complete Act List Judgments citing this sectionCeiling on Government on Guarantees Act 1999 (19 of 1999) Amended Act 15 of 2002 Section 6
Title: Performance Guarantee
State: Karnataka
Year: 1999
(1) In the interest of development of infrastructure project the Government may continue to give performance guarantee to all such sectors. (2) The Government shall place before both the Houses of the State Legislature a comprehensive report on the liabilities (in rupees) that the State may incur in future, if the State fails to meet the contractual obligation stated in the performance guarantee. (3) The report referred to in sub-section (2) shall be placed within six months of the date of giving performance guarantee.
View Complete Act List Judgments citing this sectionBombay Motor Vehicles Tax, the Motor Vehicles (Taxation of Passengers), the Maharashtra Education and Employment Guarantee (Cess); the Tax on Sale of Electricity, the State Tax on Professions, Trades,, (Maharashtra) Preamble
Title: the Bombay Motor Vehicles Tax, the Motor Vehicles (Taxation of Passengers), the Maharashtra Education and Employment Guarantee (Cess); the Tax on Sale of Electricity, the State Tax on Professions, Trades, Callings and Employments, the Tax Acts (Amendment) and the Employment Guarantee (Amendment) and the Bombay State Scarcity Relief Fund (Repeal) Act, 2008
State: Maharashtra
Year: 1865
.....CALLINGS AND EMPLOYMENTS, THE TAX ACTS (AMENDMENT) AND THE EMPLOYMENT GUARANTEE (AMENDMENT) AND THE BOMBAY STATE SCARCITY RELIEF FUND (REPEAL) ACT, 2008 [Act No. 05 of 2008] [19th March, 2008] PREAMBLE An Act further to amend the Bombay Motor Vehicles Tax Act, 1958; the Bombay Motor Vehicles (Taxation of Passengers) Act, 1958; the Maharashtra Education and Employment Guarantee (Cess) Act, 1962; the Maharashtra Tax on Sale of Electricity Act, 1963; the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975; the Maharashtra Tax Acts (Amendment) Act, 1975 and the Maharashtra Employment. Guarantee Act, 1977; and to repeal the Bombay State Scarcity Relief Fund Act, 1958. WHEREAS both Houses of the State Legislature were not in session; AND WHEREAS the Governor of Maharashtra was satisfied that circumstances existed which rendered it necessary for him to take immediate action further to amend the Bombay Motor Vehicles Tax Act, 1958(Bom. LXVII of 1958); the Bombay Motor Vehicles (Taxation of Passengers) Act, 1958(Bom. LXXXIII of 1958); the Maharashtra Education and Employment Guarantee (Cess) Act, 1962(Mah. XXVII of 1962); the Maharashtra Tax.....
View Complete Act List Judgments citing this sectionNational Rural Employment Guarantee Act, 2005 Complete Act
Title: National Rural Employment Guarantee Act, 2005
State: Central
Year: 2005
.....Scheme Section19 - Grievance redressal mechanism Chapter IV Section20 - National Employment Guarantee Fund Section21 - State Employment Guarantee Fund Section22 - Funding pattern Section23 - Transparency and accountability Section24 - Audit of accounts Section25 - Penalty for non-compliance Section26 - Power to delegate Section27 - Power of Central Government to give directions Section28 - Act to have overriding effect Section29 - Power to amend Schedules Section30 - Protection of action taken in good faith Section31 - Power of Central Government to make rules Section32 - Power of State Government to make rules Section33 - Laying of rules and Schemes Section34 - Power to remove difficulties ScheduleI - SCHEDULE ScheduleII - SCHEDULE
List Judgments citing this sectionDeposit Insurance and Credit Guarantee Corporation Act, 1961 Section 23A
Title: Credit Guarantee Fund
State: Central
Year: 1961
.....or the General Fund under section 27; and (e) all income arising from the investments made out of that fund. (2) The said Fund shall be applied-- (a) to make payments in respect of guarantees and indemnities taken over or issued by the Corporation; (b) to meet any liability in respect of the amount referred to in clause (d) of sub-section (1); (c) to meet the whole or any part of the liability on account of depreciation in assets, contributions to staff superannuation and other funds, or other expenses incurred or to be incurred by the Corporation, as may be decided by the Board;] ____________________________ 1. Inserted by Act 21 of 1978, Section. 8(12) (w.e.f. 15-7-98).
View Complete Act List Judgments citing this section- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial