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H.B. Basavaraj (Dead) by Lrs. and anr. Vs. Canara Bank and ors.

Court : Supreme Court of India

Subject : Contract

Acts : Bombay Public Trust Act, 1950; Lokashikshana Trust (Taking Over of Management) Act - Sections 2; Indian Contract Act, 1872 - Sections 56, 62, 70, 129 and 130; Evidence Act - Sections 115; Lokashikshana Trust (Taking over of management) Ordinance

Reported in : 2010(1)KarLJ588; 2009(13)SCALE474; 2009AIRSCW7567

the Bank would clearly show it to be one of a continuing guarantee. Section 129 of The Indian Contract Act, 1872 (hereinafter referred to as 'the Act') defines a continuing guarantee as 'A guarantee which extends to a series

C.P. Sreelal Vs. District Collector and ors.

Court : Kerala

Subject : LimitationCivil

Acts : Kerala Revenue Recovery Act, 1810 - Sections 62(2), 65, 69(2), 70(3), 70(70), 70(71), 71 and 72; Limitation Act, 1908 - Articles 19, 21, 22, 28, 55, 57, 113 and 115; Limitation Act, 1963 - Sections 19, 27 and 55; Indian Contract Act, 1872 - Sections 129; Transfer of Property Act - Sections 73(2); Land Acquisition Act, 1894

Reported in : AIR2007Ker131

given by the appellant is a continuing guarantee. 'Continuing Guarantee' is defined by Section 129 of the Indian Contract Act, 1872 thus:129. Continuing Guarantee -- A guarantee which extends to a series of transaction is called a 'continuing guarantee'.10.

Male Venkateswarlu and anr. Vs. State Bank of India, Ongole Branch and ...

Court : Andhra Pradesh

Subject : Contract

Acts : Indian Contract Act, 1872 - Sections 128, 129 and 133; Limitation Act, 1908 - Schedule - Articles 57 and 115; Constitution of India - Article 141

Reported in : 2005(5)ALD62; III(2006)BC563; [2005]128CompCas572(AP)

and definitely not the guarantors especially in view of the clear language of Section 133 of the Indian Contract Act, 1872 (for short, 'the Act'). The learned Counsel also made certain comments relating to the peculiar procedure adopted by … the surety is co-extensive with that of the principal debtor, unless it is otherwise provided by the contract'.19. Section 129 of the Act deals with continuing guarantee, which reads as under:'129. Continuing guarantee.--A guarantee which extends to a

Patel Dadubhai Narsibhai (Decd.) Through His Heirs and Lrs. Jayaben D. ...

Court : Gujarat

Subject : Electricity

Reported in : (1990)1GLR673

between defendant-Board and plaintiff No. 1. Thus as far as the pre-condition of applicability of Section 73 of Contract Act, 1872 is concerned, it is clear that the contract was between the defendant-Board and plaintiff No. 1-Dadubhai Narsibhai Patel. … plaintiff No. 1 Dadubhai Patel. These bills are also on record at Exs. 123, 124, 126, 127 and 129. Ex. 131 is the certificate issued by the village Sarpanch to the effect that in Survey No. 505,

Union Bank of India, Ernakulam Vs. T.J. Stephen and ors.

Court : Kerala

Subject : Contract

Acts : Contract Act, 1872 - Sections 129 and 154; Limitation Act, 1963 - Schedule - Article 55

Reported in : AIR1990Ker180; [1989]66CompCas96(Ker)

a fit case where we should order costs. Contract - guarantor's liability - Sections 129 and 154 of Contract Act, 1872 and Article 55 of Limitation Act, 1963 - liability of guarantor or surety - in case of continuing … has been fulfilled.'7. An implied promise by acknowledgment really spells a new cause of action. A reading of Section 18 of the Limitation Act with the explanation would make it clear that Indian Law does not accept

Subramania Gurukkal and Another Vs. State Bank of India (Adb) Karuvepp ...

Court : Chennai

Subject : Limitation

Acts : Limitation Act, 1963 -- Schedule -- Article 55; Limitation Act, 1907 -- Schedule -- Article 115; Indian Contract Act, 1872 -- Sections 129; Code of Civil Procedure (CPC), 1908 -- Sections 100

Reported in : [2001]103CompCas899(Mad); 2000(3)CTC630

Article 55 of Schedule to Limitation Act, 1963, Article 115 of Limitation Act, 1907, Section 129 of Indian Contract Act, 1872 and Section 100 of Code of Civil Procedure, 1908 - second appeal against conclusion of lower Appellate Court

Shiv Machine Tools Vs. Canara Bank

Court : Karnataka

Subject : Contract

Acts : Contract Act, 1872 - Sections 129

Reported in : ILR1996KAR732; 1996(5)KarLJ406

is affirmed.For the reasons stated above, there is no merit in the Appeal and the same stands dismissed. CONTRACT ACT, 1872 (Central Act No. 9 of 1872) - Section 129 - Continuing Guarantee - Initial loan Rs. 30,000/- :

Syndicate Bank Vs. Channaveerappa Beleri and ors.

Court : Supreme Court of India

Subject : LimitationBanking

Acts : Contract Act, 1872 - Sections 126, 128, 129 and 130; Limitation Act, 1963 - Schedule - Articles 21, 22, 55 and 113; Limitation Act, 1908 - Schedule - Articles 115, 116 and 120

Reported in : AIR2006SC1874; 2006(2)AWC2061(SC); II(2006)BC579(SC); [2006]131CompCas303(SC); JT2006(4)SC579; 2006(4)KarLJ276; (2006)3MLJ5(SC); RLW2006(3)SC2105; 2006(4)SCALE368; (2006)11

and the decision of this Court relied on by both parties.5.1 Section 126, 128, 129 and 130 of Contract Act, 1872 are extracted below:Section 126. 'Contract of guarantee,' 'surety,' 'principal-debtor' and 'creditor' - A 'contract of guarantee' is a

Jagadindra Nath (Sic) Vs. Chandra Nath Pod(Sic)

Court : Kolkata

Subject : Contract

Reported in : (1904)ILR31Cal242

pay his own costs. Principal and surety - Contract of guarantee--Surety (sic)--Forbearance of claim--Continuing guarantee--Contract Act (sic) of 1872) Section 129. -

P. Janakiram Chetty Vs. Punjab National Bank Ltd. and anr.

Court : Karnataka

Subject : BankingContract

Acts : Indian Contract Act, 1872 - Sections 126, 128, 129, 133, 134, 135, 139, 140, 141 and 176; Indian Companies Act

Reported in : AIR1968Kant56; AIR1968Mys56; (1967)2MysLJ168

first this contention of the learned counsel whether the appellant-second defendant is discharged. Chapter VIII of the Indian Contract Act, 1872, deals with indemnity and guarantee 126 defines a contract of guarantee thus:'A 'contract of guarantee' is a contract … the surety is co-extensive with that of the principal debtor, unless it is otherwise provided by the contract. Section 129 defines a 'continuing guarantee'. It means 'A guarantee which extends to a series of transactions'. (13) In this