Whether Gurrantors Property Can Be Auctioned?
Adv Archana Deshmukh (Practicing Advocate) 18 August 2010
Yes, guarantor is liable to repay the debt in case if the borrower becomes defaulter.
Prakash Yedhula (Lawyer) 18 August 2010
The guarantor's liability is co-extensive with that of the principal borrower
A V Vishal (Advocate) 18 August 2010
S.128 of the Indian Contract Act, states that " The liability of the surety is co-extensive with that of the principal debtor, unless it is otherwise provided by the contract."
sanjeev narula (advocate) 19 August 2010
gurantors are severally and jointly liable to pay the debts of pricipal borrower