...sureties by Sections 133, 134, 135, 139 and 141 of the Indian Contract Act.”6. The learned Counsel Shri Raghavan submitted that there was nothing in ...of the Contract Act to show that the parties could absolve themselves from the operation of Section 141.... Section 141 of the Contract Act reads as:—“A surety is entitled to the benefit of every security which the creditor has against the...

...language of section 140 of Contract Act makes it plain that even without the necessity of a transfer, the law ve...Civil Procedure to protect his interest. The learned counsel further submitted that in view of the provisions of section 140 of the Indian Contract Act, where ...Act is not used in any technical sense, it includes all rights which the creditor has against the property at the date of the contract. The surety is entitled on payment...

...recognised and incorporated in Section 141 of the Indian Contract Act as regards the discharge of a surety from liability, when the creditor parts with or loses the security held by him with, howe...insignificant variation to the effect that the surety is entitled to the securities given to the creditor, both before and after the contract of surety.2. It is on this score thus Section ...latter is, by the express provision contained in Section 141, discharged to the extent of the value of the security lost or parted with.”(emphasis supplied)...

...section 141 of Contract Act relating to the discharge of the guarantor. The Honble Supreme Court has ruled in the...for the statute has provided both the creditor and the guarantor some relief as specified in sections 130 to 141 of the Contract Act. This Judgment cited by the applicant-FI...facts of this case as it is concerning Bombay Labour Welfare Fund Act and Payment of wages Act. However, the counsel...

...notice Section 141 of the Indian Contract Act under which the surety claims the relief of discharge. Section 141 reads as under:“A surety is enti...variations Section 141 of the Indian Contract Act incorporates the English law relating to discharge from liability of a surety where the creditor parts with or loses the security held by it...clause in Ext. P-4 the appellant has opted out of the benefit of Section 141 of the Indian Contract Act. We are unable to accept the argument put forward by the Attorney-General on behalf...

...Section 141 of Indian Contract Act. That application was opposed by the bank on the ground that there was no property in Gurgaon mortgaged with it by respondent no.4 as was being...position as well as the provisions of Section 141 of the Indian Contract Act, it is submitted that the applicant/defendant no. 3 is entitled to be discharged and his name is liable to deleted from...owned by defendant no. 2 and the alleged securities Rs. 400 lacs and that of the hypothecated goods is Rs. 18 lacs and in view of the provisions of Section 141 of the Indian Contract ...

...Section 141 of the Contract Act if a creditor loses or parts with security available to it, surety is discharged: The decr...was hypothecated, the appellant was discharged from his liability, in view of the provisions of Section 141 of the Indian Contract Act. In the case of ...any understanding, faith or belief that the Bank has taken and/or may, hereafter, take any or other such security and that notwithstanding the provision of Sections 140 and 141 of the Indian ...

.... Section 141 of the Contract Act runs as follows: Surety's right to benefit of creditor's secur...Section 141 of the Contract Act because of the words "the surety is discharged to the extent of the valu...every security which the creditor has against the principal debtor at the time when the contract of suretyship is entered into, whether the surety knows of the existence of such security or not; and, if...

...articles could not be traced, in view of section 141 of the contract act, the 3rd defendant is relieved of the burden of discharging the debt to the extent of the value ...benefit of section 141 of the contract act. (6) On the evidence on record, i find that the goods were not pledged with the plaintiff - bank but they were only hypothecated. In thi.... The possession of those goods was still retained by the owner i. E. , the defendants 1 and 2. (8) Section 141 of the contract act reads as follows...

...the contrary’ have been inserted in that particular section as has been done in Sections 152 and 163 of the Contract Act and therefore this right could not be waived. With utmost respect,...Section 141 of the Contract Act to indicate that the parties could contract out of the liability envisag...Section 141. But Section 128 of the Contract Act reads as—‘The liability of the surety is...

...argument was that the plaintiff based his cause of action on the novation of contract entered into between him and defendant No. I on October 26, 1976 to which the appellant was not a party. Last contention advanced was tha...not stand discharged under section 141 of the Contract Act.7. Thus all the four contentions advanced by the learned counsel for the appellant before me have no merit in them. This first appe...section 129 of the Contract Act. The second argument advanced was that the suit of the plaintiff as against the appellant ...

..., then, how the sureties can escape liability by invoking section 141 of the Contract Act, 1872, which read...section 141 of the Contract Act for his benefit. Under the said section if the creditor loses, or without the con...section 141 of the Contract Act in such a situation. Reference in this behalf may be made to...

...counsel for Defendants 3 and 4 has placed strong reliance on Section 141 of the Indian Contract Act, 1872. Section 141, however, envisages a case where the liability of the suret...liability of the principal debtor. It provides that such a surety would be entitled to the benefit of every security which the creditor had against the principal debtor at the time when the contract of...suretyship was entered into. Such is not the case here. Moreover, the interpretation put on Section 141 by the Division Bench, in our view, is not correct.6. In the...

..., negligence or default of the forest contractor. The surety Kaluram contends that because the State lost or parted with the security he stood discharged. By Section 140 of the Indian Contract Act, 1872, w...to certain variations, which are not material for the matter under discussion, Section 141 of the Contract Act incorporates the rule of English law relating to the discharge from liability ...officer who executed the contract.9. It is also necessary to refer to Sections 82 and 83 of the Indian Forest Act 16 of 1927. By Section 82 it is provided that all money...

...sureties had 'waived' and 'contracted out' of the benefit of Section 141 of the Contract Act and that th...embodied in Section 141 of the Indian Contract Act, 1872. The said section states: "A surety is entitled to the be...the nature of the security in the present case, the sureties cannot make an appeal to the provisions of Section 141 of the ...

...dictated, stated that an issue may arise with respect to the plea of Section 141 of the Indian Contract Act, 1872 and also whether the suit could be proceeded with as th...Section 141 of the Contract Act was to be taken in execution or in suit. On a perusal of the Deed of Gua...favour of the plaintiff was recorded. In the absence thereof, invocation by the counsel for the defendant no. 2 of Section 141 ...

...provisions of Section 141 of the Indian Contract Act read with Section 91 and 92 of the Transfer of Property Act and consequently direct the Respondent No. 1 to...execute the Registered Assignment Deed in favour of the Petitioner at the costs and expenses of the Petitioner.IA NO:1 OF 2019Petition under Section 151 CPC praying...Petition under Article 226 of the Constitution of India praying that in the circumstances stated in the affidavit filed therewith, the High Court may be pleased to issue a writ or order...

...amount. The Court, however, has evidently relied on the provisions of Section 139 and Section 141 of the Indian Contract Act, 1872. Under S. 141..... 141 where C takes B's goods in execution after a guarantee has been, received from A. In such a case if C without the knowledge of A withdraws the execution A is discharged. Under S. 139 of the Act...extent: that the discharge Page: 617of the surety should not be an absolute discharge under Section 139 of the Contract...

...on the ground that under section 141 of the Contract Act, the liability of the guarantor was discharged to the ex...J.V Gupta, J.:— This revision petition is directed against the order of the executing Court dated November 22, 1985, whereby the objection petition filed on behalf of the judgment-debtors...(guarantors) was accepted and they were discharged of their liabilities to the extent of the entire cost of the car. It was also directed that the decree-holder (Bank) can recover the amount from...

...parted with the security within the meaning of section 141 of the Contract Act and consequently the surety is...Lourence, appeals.4. Mr. Alvares, learned counsel for the appellant, relies on sections 139 and 141 of the Contract Act, 1872, for the proposition, firstly...section 139 of the Contract Act and it is obvious that the eventual remedy which the surety may have against Krishna Naik or the...