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...words of the bond excluded a compromise decree. It was further held that section 135 of the Indian Contract Act was an effective answer to the...single Judge of the Allahabad High Court held in Kunj Lal v. Batuk Prasad (120 I.C 552) that the surety was discharged from his liability unde...section 135 of the Contract Act in the judgment there is no discussion of the principl...
...regards the appellant having stood surety for payment of the dues of three instalments amounting to Rs. 3,079/-. The dispute relates to alteration of the due dates of payment wit...given beforehand in the surety-bond itself and no further assent was therefore needed.
In the second place, according to it, even assuming that the assent of the surety was needed to ...Section 135 of the Contract Act which has a material bearing on the question of extension ...
...written statement, is “that the plaintiffs Bank gave time to defendant 2, the principal debtor, without obtaining answering defendant's assent to it para. 19 of the written statement.”6. Such a defen...extended, and, therefore, Section 135 of the Contract Act, has no application. We next examine the quest...to have the position of a surety. In this connexion we would also refer to Section 132 of the Contract Act,...
...G.C Das, J.:— The two principal questions to be decided in this appeal are (1) The applicability of Section 135 or the Indian Contract Act (...Mr. M.S Rao before this Court. His contention, in essence, was that Section 135 of the Contract Act does not app...Section 135 of the Contract Act does not apply to the facts of the present case, he i...
...for the defendant No. 2, the appellant herein, urged that in view of the compromise entered into between the plaintiff and the defendant No. 1 a compromise decree was passed on 28.4.1995 to which ...submitted that the defendant No. 2 was not merely a surety, but he was also a mortgagor; as per the Letter of Guarantee executed by the defendant No. 2 in favour of the plaintiff, it is not open t...from the Clause 9 extracted above, the defendant No. 2 specifically agreed that he shall not be entitled to any of the rights conferred on sureties by Sections 133, 134, 135, 139 and 141 ...
...135 does not apply to claim which have been decreed. Liability of surety is not discharged by the decree-holder's giving time to principal judgment-debtor. (1906) 9 Oudh Cas 28 (28, 29).”...that any prejudice was caused to the surety by the grant of instalments to the principal judgment debtor and that therefore the liability of the surety did not stand discharged on account...on page 1436 as:“The act of the Bank in giving time to the principal debtor to make up the quantity of the goods pledged is not tantamount to the giving ...
...against Jhanku Lal, the surety, under Section 135 of the Contract Act, &, lastly, that the bond.... 91 & (2) at p. 178 of the paper book, showing that the Trust had agreed not to continue certain execution proceedings against the J.D for the time being, though, in each case, it was in the hope...plffs. were not entitled to a decree in view of the provisions of Section 135 of the Contra it Act, & (3) that the suit was time-barred. We propose to deal with these qu...
...articles belonging to the company and to appropriate the sale proceeds for his own purpose. The value of the security also came down on account of the delay in initiating the act...section 135 of the Contract Act. In Amrit Lal Gover...section 135 of the Contract Act. At page 1436 of this decision, the Supreme Court observed tha...
...guarantor, yet while discussing the liability of guarantor in para 22 of the judgment, it has recorded a contrary finding that the guarantor is not liable to satisfy the loan amount, because ...hand, we shall refer to the provisions contained in Section 128 and 135 of the Contract Act. They are reproduced herein under for ready reference:-...surety shall discharge when the eventuality, as mentioned in Section 135 of the Contract Act, happens be...
...execution contending that he is exonerated from liability in view of the contract between the plaintiff and defendants 1 and 2 by which the principal debtor was given time for payment without the ...p. 352).7. This rule has been given statutory recognition in Section 135 of the Indian Contract Act. Though having regard to the definition in...Section 126 of the Indian Contract Act, Section 135 cannot in terms apply to a transaction where the surety bond is given to the court, there ...
...K. Venkata Seshiah v. Kanduru Ramasubbamma (dead) by LR., JT 1991(1) SC 642, and another judgment of the Hon'ble Apex Court delivered in ...the basis of the arguments of the learned Counsel for the appellants in addition to other grounds. Section 135 of the Indian Contract...Section 135 of the Contract Act that in given circumstance the surety stands discharged and, as per ...
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The learned Judge held that the security bond dated 23rd September 1945 executed by Srinivasa was a mere contract of guarantee within the meaning of ...benefit of the amount) would not be-entitled to the benefits of Section 135 of the ...-broker to the broker was a contract of indemnity or a contract of guarantee or suretyship to which alone the provisi...
...were filed by the Appellants and Certified Debtor No. 6 before the Recovery Officer for discharging them from the liability in view of novation of contract by the principal debtor excludi...Appellants are before this Tribunal.
4. The contention of the Appellants is that the contract/compromise entered into between the 1stcertified debtor c...Learned Presiding Officer refused to interfere with the order of the Recovery Officer and dismissed the appeals. The only question that arises for consideration is whether the Appellants are entit...
...were filed by the Appellants and Certified Debtor No. 6 before the Recovery Officer for discharging them from the liability in view of novation of contract by the principal debtor excludi...Appellants are before this Tribunal.
4. The contention of the Appellants is that the contract/compromise entered into between the 1stcertified debtor c...Learned Presiding Officer refused to interfere with the order of the Recovery Officer and dismissed the appeals. The only question that arises for consideration is whether the Appellants are entit...
...were filed by the Appellants and Certified Debtor No. 6 before the Recovery Officer for discharging them from the liability in view of novation of contract by the principal debtor excludi...Appellants are before this Tribunal.
4. The contention of the Appellants is that the contract/compromise entered into between the 1stcertified debtor c...Learned Presiding Officer refused to interfere with the order of the Recovery Officer and dismissed the appeals. The only question that arises for consideration is whether the Appellants are entit...
...Arbitral Tribunal on 09.11.2017, inter alia, contending that in terms of Section 135 of the Indian Contract Act, 1872 (hereafter „Contract Act"), the pet...petitioners" contention that they were discharged of their obligations under their Personal Guarantees by virtue of Section 135 of the Contract Act. He contended that ...remedies available to a guarantor in law, contract or in equity or otherwise howsoever and particularly those provided in sections 132, 133, 134, 135, 136, 137, 138, 139 and 141 of the Indian Contract ...
...only point which, therefore, arises for consideration is the consequence of the compromise entered into by defendant No. 1 with applicant Bank vis-a-vis the Continuation of suit against the guaran...Anand tried to rely upon the provisions of Section 135 of the Indian Contract Act and further relied upon the case of...rights conferred on a guarantor by Sections 133, 134, 135, 139 and 141 of the Indian Contract Act….”The rights conferred on the surety under Sect...
...passing of the compromise decree will not entitle him to claim discharge. xxxxxxThe question would thus always be one of construing the surety bond in order to decide whether compromise decr...to bond in favour of a Court, yet the equitable principles under lying the provisions of section 135 of the said Act apply to such a bond. This also answers the...judgment-debtor, it will immediately attract section 135 of the Contract Act and would lead to the dicha...
.... Therefore, referring to Section 135 of the Contract Act, it is submitted that once the creditor-decree...clearly laid down on page 1436 as:The act of Bank in giving time to the principal debtor, to make up the quantity of the goods pledged, is not tantamount to the gi...V. Jagannathan, J.:— The Appellant-KSFC, aggrieved by the dismissal of the petition filed by it under Section 31(1)(aa) of the State Financial Corporation Act (“...
...different from the scope of power under Section 69 of the Transfer of Property Act.23. Shri Dholakia, learned Senior Counsel appearing on behalf of...that in reply to the submission made by Shri Dholakia on behalf of the guarantors that even though a guarantor may stand discharged as envisaged under Sections 133 and 135 of the Indian ...Property Act regarding sale of security interest without intervention of the court like Section 29 of the State Financial Corporations Act, 1951 and Section 176 ...