Indian Partnership Act : REVOCATION OF CONTINUING GUARANTEE BY CHANGE IN FIRM Indian Bare Acts :

Indian Partnership Act,1932

Act No : 9

Section : REVOCATION OF CONTINUING GUARANTEE BY CHANGE IN FIRM

SECTION 38: REVOCATION OF CONTINUING GUARANTEE BY CHANGE IN FIRM
A continuing guarantee given to a firm, or to a third party in respect of the transactions of a firm, is, in the absence of agreement to the contrary, revoked as to future transactions from the date of any change in the constitution of the firm.