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ravi (Admin)     18 July 2008

personal guarentor

Hello,

In money recovery suit, what is the liability of PERSONAL GUARENTOR , in case of his
"DEATH' , prior to the filing of the suit. Whether LR's are to brought on the record.

If the answer is NO, suggest the citations

Thanks in advance


Learning

 6 Replies

Sukhija (Advocate)     18 July 2008

Personal Guarantor expires then no responsibility of Legal heirs. It is Personal Gaurantee.

J. P. Shah (RTI & CONSUMER ACTIVIST)     19 July 2008

I THINK, LEGAL REPRESENTATIVE/HEIRS ARE LIABLE TO THE EXTENT OF PROPERTY INHERITED FROM THE DECEASED GUARANTOR. U MAY REFER SEC 50 (2) OF CIVIL PROCEDURE CODE. THERE ARE 4 TO 5 JUDGEMENTS OF HIGH OR SUPREME OR DRT OR DRAT TO THIS POINT. I WILL TRY TO LOCATE AND LOAD THE SAME 

Rajasekar (advocate)     15 September 2009

Originally posted by :Sukhija
" Personal Guarantor expires then no responsibility of Legal heirs. It is Personal Gaurantee. "

see sec 131 of contract ACt

Vigneswaran (Lawyer)     03 June 2011

Citations would be welcomed on this issue :)
     

DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE )     03 June 2011

for basic provision no citation needed. Personal guarntee expires.

kranthi (retainer advocate)     13 October 2011

 I think the leagl representative have to pay towards their share


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